Quote:
Originally Posted by TechieSam
From what I see in the published annual reports, it looks like FIRST used to carry a cash reserve right around $3 million about 4 or 5 years ago. Since then, they've been generating a little over a Million in profit each of the last 4 years, which is how they've gotten up to a cash reserve of over $8 million.
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The 8M is not a cash reserve. They have liabilities that offset that. The net is something over 1M.
Also, they are not generating profit. They are by definition a non-profit. A for-profit pays the profit to shareholders/owners. Since FIRST is a non-profit the cash remainder reserve rolls over to the next year.