January 09, 2014
Charity Navigator, America's largest and most-utilized independent evaluator of charities, has once again awarded Room to Read the coveted 4-star rating for soundfiscal management and commitment to accountability and transparency. This is the eighth year in a row Room to Read has garnered this award and the “exceptional” designation—a recognition that only 1 percent of rated charities can claim—demonstrating that Room to Read “outperforms most other charities in America”, is differentiated from its peers and worthy of public trust, according to Charity Navigator President & CEO Ken Berger.
As the nonprofit sector continues to grow at a rapid pace, savvy donors are demanding more accountability, transparency and measurable results from the charities they choose to support with their philanthropic dollars. Receiving 4 out of a possible 4 stars indicates that Room to Read is able to efficiently manage and grow its finances while adhering to good governance and other best practices that minimize the chance of unethical activities. An overview of Room to Read’s performance metrics can be found on the organization’s Charity Navigator rating page.
Charity Navigator’s rating analysis is based on financial health and accountability and transparency. Room to Read is proud to maintain its 4-star rating for consistently executing its mission in a fiscally responsible manner, with 83 percent of total expenses directed toward program costs. Rating a 70 out of possible 70 for accountability and transparency, Room to Read continues to adhere to sound practices such as independent audits and posting of financial records.
“Our commitment to financial accountability ensures that our promise to millions of deserving children and hundreds of communities is a sound investment in their bright futures,” says Erin Ganju, CEO and Co-Founder of Room to Read. “Due to the work of Room to Read, nearly nine million children in 10 countries across Asia and Africa have been reached with higher quality educational opportunities that will support them in achieving their full potential in life, contributing to their community and the world.”
“As Room to Read matures as an organization, now in its fourteenth year of operations, we continue to honor the core business principles that have been in our corporate DNA since day one--transparency, fiscal responsibility, and accountability to our investors and the children we seek to benefit," says Joanne Chou, Room to Read’s Chief Financial Officer. "We are focused on the 'how' just as much as the 'what' of our business."
Forbes, Business Week, and Kiplinger's Financial Magazine, among others, have profiled Charity Navigator's unique method of applying data-driven analysis to the charitable sector. Charity Navigator is the leading charity evaluator in America, evaluating ten times more charities than its nearest competitors. It is estimated that last year Charity Navigator influenced over $10 billion in charitable gifts.
Room to Read’s 4-star Charity Navigator rating comes on the heels of the organization’s recognition as a Top-Rated Nonprofit by GreatNonprofits, the leading provider of user reviews about nonprofit organizations, based on the large number of positive reviews that Room to Read received. Room to Read has also been ranked one of the top three educational NGO’s in the world by The Global Journal’s Top 100 Best NGO’s ranking for 2013.