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Our 2005 IRS 990 Return is posted on our website at Please feel free to contact me if you have any questions. We have asked that Charity Navigator contact Digital Exchange Financial Partners to admit their inaccuracy.

I would strongly suggest you check their site again to see that the information regarding American Tract Society is updated accurately. We have provided Charity Navigator with the breakdown on all compensation and they tell me the website will be updated within the week. Ken Behr, President of the Evangelical Council for Financial Accountability has also brought the inaccuracy to their attention. We have asked Charity Navigator repeatedly to correct this information. Dan Southern’s compensation was reported in 2004 on our 990 to be $61,968. However, Charity Navigator fails to note that $510,285 is the cumulative total for ALL key officers at American Tract Society (8 to be exact). Please feel free to look up ATS on their website: Charity Navigator shows compensation to our President in 2004 at $510,285. We adhere to the position of the Evangelical Council for Financial Accountability (all ministries should be judged on an individual basis) and conform to their standards. The American Tract Society does not believe that any group should apply mathematical formulas to determine the efficiency of diverse ministries (or, in fact, pit one against another) and thus do not agree or wish to cooperate with Charity Navigator. We received a Google Alert regarding the posting by you on the Digital Exchange Financial Partners blog on December 6, 2006. To: Charity Navigator and the American Tract Society

If this information is erroneous, I would strongly suggest that Charity Navigator, change the information to more accurately reflect the actual salaries.

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In an effort to insure a full and complete disclosure, the following message was received by DEX Financial from Pamela Friedman, Controller, American Tract Society.įurther, Trent Stamp, president of Charity Navigator has also been notified of this disclosure, so that he may comment. Source: eFunds ( ) American Express ( ) In 2005, US $14.1 billion was loaded onto open prepaid cards, representing a US $5 billion increase over 2004, according to Mercator.

Prepaid cards issued with global card brands, such as American Express, represent the fastest growing segment of the prepaid market, and are often referred to as open prepaid cards. 'With eFunds, we can build an even stronger foundation for future growth in our prepaid business, and continue to deliver the high level of service, quality and convenience that our customers demand and expect.' Under the terms of the agreement, eFunds will take operational responsibility for transaction processing, including key tasks such as card activation, account maintenance and transaction authorization, among others.Īccording to Mercator Advisory Group, the open prepaid market is estimated to grow by more than 55 percent per year over the next four years, making it one of the fastest growing payments markets. eFunds was the obvious choice,' said Valerie Soranno Keating, President, American Express Travelers Cheques and Prepaid Services. 'Sales of American Express Gift Cards have more than doubled every year since we introduced the product in 2002, so we needed a partner with proven innovation, leadership and reliability in prepaid card processing. retailers and restaurants that welcome American Express, offer recipients extras and special offers at 20 participating retailers, restaurants and other partners, and are available for purchase nationwide, as well as online at /gift.ĮFunds will also provide processing services to American Express-backed gift cards sold by shopping centers the Travelers Cheque Card, available online and at banks and travel agencies and incentive cards issued by American Express Incentive Services (AEIS), a joint venture of American Express and Maritz. American Express Gift Cards are redeemable at U.S. eFunds' prepaid card processing expertise will provide American Express with enhanced functionality to handle the increase in sales and transaction volume of its prepaid card business.ĮFunds will support the growing portfolio of American Express Gift Cards, which now includes personalized themed Gift Cards Especially for Kids, Especially for Teens, and Especially for Birthdays. The agreement combines the companies' capabilities to support the future growth of American Express prepaid products. NEW YORK, NY and SCOTTSDALE, AZ (December 6, 2006) American Express and eFunds Corporation have formed a global, multi-year strategic partnership in which eFunds will provide processing services for the American Express portfolio of prepaid cards.