Time’s Up released its latest financial reports on Tuesday, which show the non-profit grew quickly in 2019 but also had to pay a sizable severance to its former CEO.
Time’s Up spent $10.8 million in 2019, up nearly threefold from the year before. At the same time, it directed a larger share of its budget to program services — about 62%, compared to 41% in its first year.
Charity rankings pay close attention to the percentage of funds that go to services, with a general target being 75%.
The financial reports also disclose that former CEO Lisa Borders was paid $591,000 in 2019, though she left the organization in mid-February of that year after her son was accused of sexual assault. Borders, a former WNBA president, was paid $342,000 the year before.
A note on the filing states that Borders’ 2019 compensation was the result of a severance agreement, and that the severance payment was “covered by board contributions designated for this purpose.”
Time’s Up was founded in the wake of the Harvey Weinstein sexual assault revelations in late 2017. Its purpose is to raise awareness of sexual mistreatment in the workplace, both in Hollywood and in other industries. It also raises money for the Time’s Up Legal Defense Fund, a fund established at the National Women’s Law Center to handle legal cases involving sexual misconduct.
The NWLC reports its finances separately, and uses a fiscal year calendar. Its most recent public disclosure covers the year ending June 30, 2019. As of that point, the Time’s Up Legal Defense Fund had spent nearly $11 million on legal services, and had another $14 million on hand.
Though most of that funding goes directly to the NWLC without a pass-through, the Time’s Up organization also contributes money to the fund under a memorandum of understanding. In 2019, the group contributed $3.2 million to the fund, up from $312,000 in its first year.
Time’s Up also spent another $3.6 million on “culture change” programs and “private sector change” programs.
“Time’s Up was founded to create a world where work is safe, fair, and dignified for all – and where survivors of harassment can pursue justice free from retaliation and intimidation,” the organization said in a statement. “We’re proud of what we have accomplished in three short years and remain committed to continuing to grow our work and deepen our impact as our organizations evolve and mature. We take our responsibility to be good stewards of our donors’ contributions seriously. Time’s Up’s investment in a top notch team of professionals and advocates is in service of our mission to leverage research, communications, policy analysis, organizing, and a network of volunteers to push for systemic change.”
Tina Tchen, the group’s current CEO, took the helm on Nov. 1, 2019. She was paid $97,000 for the final two months of the calendar year.
Time’s Up operates both as the Time’s Up Foundation, a 501(c)3 which collects tax-deductible contributions, and as Time’s Up Now, a 501(c)4 which collects non-deductible donations. Total contributions to both entities increased from $3.8 million in 2018 to $11.7 million in 2019.
The organization’s volunteer board members include Katie McGrath, Shonda Rhimes, Jurnee Smollett, Roberta Kaplan and Eva Longoria.