Thread: FIRST has $8 Million?!? What did I miss?
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Unread 13-04-2008, 03:03
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Re: FIRST has $8 Million?!? What did I miss?
Quote:
Originally Posted by David Brinza View Post
This modest ($1M?) reserve gives FIRST some flexibility in dealing with these sorts of situations without having a meltdown.
Just so people are basing comments and thoughts on accurate data, understand that the FIRST cash reserve has been going up $1M or more each year, it's not $1M total - it's actually up to over $9M.

Here are the accurate figures from the FIRST annual reports:

Year - Operating Expenses - Extra Cash/Grant/recieveables/profit (whatever) in the bank
2003 - $15.5 Million expenses - $4 million extra at end of year
2004 - $14.3 Million expense - $5 million extra at end of year
2005 - $17.7 Million expeness - $5.9 million extra at end of year
2006 - $19.4 Million expenses - $8.1 million extra at end of year
2007 - $23.7 Million expenses - $9.6 million extra at end of year

Those are the figures. I agree FIRST should keep a reserve, the question is, once it's gotten big enough, should the team fees go back to a level that keeps FIRST a sustainable "non-profit" but keeps the program affordable for teams and schools?
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