With an increased demand for our services, Southwest Key continued to expand and diversify funding in 2010. Operating revenues grew to $65 million, including a multi-million dollar campaign culminating in the grand opening of Southwest Key's first charter school, the East Austin College Prep Academy in August 2009 and the groundbreaking of Southwest Key's Social Enterprise Complex in May 2010. The organization employed over 1,000 people nationwide, including over 940 direct care professionals in the field. Funding for Southwest Key administration and programs came from grants and contracts with federal, state, and local governments, foundations, corporations, individuals, and special events.
Annual Reports
Form 990s
As a 501(c)(3) organization, Southwest Key files a Form 990 each year with the IRS. This return provides detailed financial data, a listing of annual expenses and sources of revenue, and other information about our organization. Southwest Key shares information about operations and finances with GuideStar, the leading source of information on US nonprofits. GuideStar is a searchable database of more than 1.7 million IRS-recognized nonprofit organizations. For independently verified information about Southwest Key's finances, including our current and past 990s, please visit Southwest Key's records on www.guidestar.org.
Council on Accreditation
Southwest Key is nationally accredited by the Council on Accreditation: www.coanet.org.
Audits
Southwest Key engages an independent accounting firm, Sprouse & Anderson LLP, to conduct an annual examination of the organization's books, records, and fiscal policies and procedures. They present the audited financial statements to the Southwest Key Board of Directors annually. For two decades, Southwest Key has received a completely unqualified opinion from its auditors, with no questions, significant deficiencies, or material weaknesses cited. For copies of our audits, please contact our CFO, Melody Chung at 512-462-2181.
Community Demographics
Southwest Key tracks the annual demographic statistical information for its defined service population, personnel, governing body, and community advisory bodies. Information is made available upon request.
Excellence in Financial Management
Southwest Key Programs manages more than 40 budgets with dozens of funding sources including federal, state, and county agencies, private foundation grants, and corporation grants. Collectively, these budgets accounted for an operating budget of more than $65 million in 2011.
Southwest Key staff are highly experienced in reviewing billings and tracking reimbursements. Our financial accounting department has a staff of eleven accountants and a manager, including four licensed CPA’s. We maintain a staff of five accounting technicians and a manager in the accounts payable department and a staff of four payroll technicians, a supervisor and a manager in the payroll department. Southwest Key’s Chief Financial Officer, Ms. Melody Chung, is a licensed CPA with a strong auditing background and is responsible for the direct oversight of all three accounting departments.
Requests & Reports
Southwest Key's financial statements can be downloaded via the links above. To request a hard copy of Southwest Key reports, contact our Chief Financial Officer, Melody Chung, at 512-583-2516 or mchung@swkey.org.
Southwest Key expects its personnel, including directors, employees and volunteers, to observe high standards of business and personal ethics in the conduct of their duties and responsibilities. If you believe that a violation of law or policy regarding accounting, internal accounting controls and/or auditing matters has occurred, please report your complaint by e-mail to whistleblower@swkey.org by fax to (512) 462-2028, or by mail to 6002 Jain Lane, Austin, Texas 78721. Southwest Key has designated its General Counsel and Chief Operations Officer as the only personnel authorized to receive whistleblower reports from the general public.
Contributions to Southwest Key are tax-deductible to the extent permitted by law. Southwest Key is a nonprofit 501(c)(3) organization (EIN/tax ID number: 74-248-1167).
