04-22-2013, 02:51 PM
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Red Snapper
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Join Date: Feb 2013
Location: leesville
Posts: 1,080
Cash: 2,325
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Quote:
Originally Posted by Matt G
Attachment 49386
Here is the audited financials for 2012. It's all hidden in the Statement of Functional Expense on pages 6 and 7. They make it appear that 80% of expenses is for project services, but that is done by "fudging" the numbers. They can send out a newsletter that is mainly for fundraising purposes, but because of the newsletter it is allocated between project services and fundraising. Look close at the total column on page 7. There is $140,728,895 in expenses and roughly $103,440,520 accounted for is REALLY for fundraising and administrative costs. That is 73.5%  , which means only 26.5% is being spent for the organizations true purpose. A far cry from the 82.8% they claim. Not very efficient in my book.
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Good find Matt....
Crap... that depresses me even more.
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