I'm haven't been a fan of SBKF for a while, and this week's debacle certainly did nothing to change my mind. I'm just curious where the "76% overhead" number is coming from? When I look at their Audited Financial Statements (income statement on p.3), I see the following:
Public Support (i.e., donations) $420M
Other Income $19M
=Total Public Support & Revenue $439M
Program Services (research, education, screening/health services) $334M
Supporting Services (i.e., overhead) $75M
=Total Expenses $409M
=Net Increase in Assets (the non-profit version of earnings) $30M
Looks like overhead is just under 18% of donations and just over 18% of expenses. Page 11 confirms program services are 82% of expenses. So where are those extreme overhead numbers coming from?



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