2019 was not a great year for the March of Dimes and yet, they continue to endure. Just six years ago, the March of Dimes had $75 million in net fund assets and was raising nearly $200 million annually but they were spending more than they raised. Since then, the revenue has declined and the organization went into a negative net fund position because they were spending $8-$27 million more than they raised annually, had to fund a pension/post retirement fund for employees, and had losses on investments. Things were not looking good by 2016 so the organization brought in a new president in 2017 following the retirement of the longtime president. Read more
The March of Dimes continues to endure. For people following the March of Dimes, the past few years have been difficult on the organization.
Just 5 years ago the March of Dimes had $75 million in net fund assets and was raising close to $200 million annually, but they were spending more than they raised. Over the next few years, revenue started to decline and the organization went into a negative net fund position because they were spending anywhere from $8-$27 million more than they raised annually, had to fund a pension/post retirement liability, and had losses on investments. Read more
The March of Dimes has experienced tough times for the past few years. At the beginning of 2014, the March of Dimes had $75 million in net fund assets which was reduced to $24.6 million at year-end after spending $8 million more than they raised, recognizing an unrealized loss ($1.6 million) on investments, and a $41 million pension/post-retirement liability.
In 2015, the deterioration continued when the March of Dimes spent $26.8 million more than they raised and recognized a $3.4 million unrealized loss on investments. A $19 million pension post-retirement credit resulted in the March of Dimes ending 2015 in a positive position with $13.4 million in net fund assets.
But, in 2016, the March of Dimes went into a negative net asset position. Starting with $13.4 million in net fund assets at the beginning of the year, the organization then spent $8.7 million more than they raised. Although the March of Dimes was able to post a $2.8 million unrealized gain on investments, a $20.4 million million change in pension and post retirement benefits resulted in the organization showing a negative asset balance of -$12.9 million at year-end. In other words, for 3 years the March of Dimes spent more than they raised and faced increasing pension and post retirement benefit liabilities for its employees contributing to the organization going into a financial position where their liabilities exceed their assets in 2016. Read more
If you made a $100 donation to the March of Dimes (MOD) in 2015, how was that money spent? According to the IRS Form 990 (2015), there are two ways in which to look at how that donation was spent: by looking at the four categories in which the organization classifies expenses: program, management, fundraising, and grants; or by looking at the line item expense, with the later providing more detail: Read more
The March of Dimes is one of the most well-known charities in this country with a mission to improve the health of babies by preventing birth defects, premature birth, and infant mortality by enhancing the availability and quality of healthcare and prevention services for women and babies with specific programs (to see which programs are funded in your state, check with the local chapter). Few people can resist contributing to an organization that “helps moms and babies in your community” but before making a charitable donation to the March of Dimes, it is important to understand where your dollars are going. Read more