The teams at BASYS Processing have already been in touch with their sponsored friends and are excited to share what they’ve learned. Unbound and BASYS share the belief that these families know better than anyone else what they need, and they’ve joined forces to help said families achieve their goals. For a company like BASYS, which was founded on the ideals of treating everyone with respect, building long-lasting relationships, and making the right decision over the easy one, a partnership with Unbound was a natural fit. They don’t view themselves as saviors, but as partners.
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Wasserman's long standing relationship with Unbound, previous involvement leading several church mission trips, being a native of Guatemala and being bi-lingual are just a few of the many attributes that enable her to work successfully and to help Unbound build meaningful relationships with project staff, awareness trip participants and sponsored families.Unbound’s approach to giving empowers families to decide how to utilize the funds they receive, driving self-led change. Wasserman for her time as an independent contractor and paid for her airfare because her participation was for bona fide business purposes.
Wasserman and other Unbound staff to participate in project mentoring/monitoring and sponsor awareness trips to various Unbound projects. "Prior to travel restrictions due to the COVID-19 pandemic, Anabella Wasserman, wife of Scott Wasserman, President/CEO of Unbound, traveled internationally with Mr. The duration of these uncertainties and the ultimate financial effects cannot be reasonably estimated at this time."Īccording to the Unbound 2020 tax filing re: Compensation, Supplemental Information (IRS Form 990, Schedule J, Part III): "As a result of the spread of the SARS-Co-V-2 virus and the incidence of COVID-19, economic uncertainties have arisen which may negatively affect the financial position, change in net assets and cash flows of Unbound. In the event the forgiveness application is denied, the balance due on the loan and interest of 1 percent is payable in monthly installments through April 2022."Īccording to the Unbound consolidated audit of Decem(Note 8, Risks and Uncertainties): Payments of principal and interest are deferred until the date of notice from the SBA if the loan is forgiven or not entitled to forgiveness. Unbound submitted the application for forgiveness in October 2020, however, the SBA has not forgiven any portion of the obligation under the loan. A portion or all of the loan may be eligible for forgiveness under the CARES Act. "In April 2020, Unbound received a loan through the Small Business Administration (SBA) Paycheck Protection Program established by the CARES Act.
Because Unbound does not exercise control over the project offices, the operations of the project offices are not consolidated in Unbound's consolidated financial statements."Īccording to the Unbound consolidated audit of Decem(Note 4, Paycheck Protection Program Loan): "Unbound also partners with 37 project offices in 19 countries to administer the various organization programs. CharityWatch's rating of Unbound does not include the financial activities of the 37 project offices in 19 countries with which it partners.Īccording to the Unbound consolidated audit of Decem(Note 1, re: Nature of Operations):
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