Washington, D.C.—The Carnegie Institution for Science received the highest rating for sound fiscal management—four stars—from Charity Navigator for the eleventh consecutive year. Only eight organizations out of 5,500 have received the highest rating this long. The Carnegie Institution for Science is the only Washington, D.C.-based organization to earn this distinction.
Charity Navigator is America's largest charity evaluator. Its rating system looks at two distinct components–the financial health of an organization and its accountability and transparency. Charities “must excel in both areas to score well overall.” Carnegie received four stars in each category. The ranking is based on analyses on the financial information each charity provides annually in its informational tax return (IRS Form 990). During the last year, Carnegie spent 89.5% of its budget on its scientific programs, 9.4% on administration, and 1% on fundraising.
“We are exceptionally pleased with this distinction from Charity Navigator,” remarked Carnegie president Richard A. Meserve. “Andrew Carnegie would be proud.” To learn more see here.
For more about Charity Navigator see http://www.charitynavigator.org/