We adhere to comprehensive requirements for audited financial statements that ensure consistency and transparency on the part of each United Way.
Our requirements are based on current best practices in our industry as well as generally accepted accounting principles and requirements. The United Way system also includes requirements for completion of the IRS Form 990 to ensure transparency using consistent standards.
United Way of Central Ohio (UWCO) is an independent organization founded and governed by local volunteers to create opportunities for a better life for all. UWCO is a member of United Way Worldwide and annually completes certification of strict membership requirements.
Strict Checks And Balances
United Way of Central Ohio has a stringent system of checks and balances in place to ensure it is operated in a sound fiscal manner. Through our Board of Trustees and volunteer committees, we draw upon the financial and management expertise in our community to continuously improve our fiscal performance. The organization’s operating budget as well as its community funding decisions are reviewed and approved by several volunteer committees, including the Board of Trustees.
High Audit Ratings
Each year, United Way of Central Ohio undergoes an annual financial statement audit by an independent CPA firm. The latest audit was completed in June 2020, and our independent auditors reported our financial statements fairly and accurately present the financial position of United Way of Central Ohio. The annual audit is approved by the volunteer Audit Committee and is also reviewed by the Board of Trustees.
Openness To Sharing Financial Information
United Way of Central Ohio’s work is made possible thanks to the support of thousands of individual investors and central Ohio employers who trust us to prudently invest their donations on behalf of the common good. Information regarding donations is available to all donors and we welcome questions regarding our investments in programs and services.
United Way Worldwide Membership Standards
Designations will be assessed noncollectable and administrative fees in accordance with United Way Worldwide Membership Standards. United Way of Central Ohio’s administrative fee is currently 10%.