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Re: FIRST has $8 Million?!? What did I miss?
FIRST's financials are perfectly normal. Their current ratio is 2.9. A business with this ratio would be considered safe and strong. Their equivalent of return on sales is about 9%. All of these numbers would be perfectly normal for a for-profit company and look to me like an organization run by conservative, professional management. There's nothing funny going on, at least from the numbers.
I have a lot more experience evaluating for-profit than not-for-profit corporations, so I can only say that if this were a for-profit I would say it's healthy and not rapacious. The nearly 30% cost of operations is higher than a charitable foundation would be, but strikes me as very reasonable for an organization that delivers a program rather than just gives money away. The Boy Scouts of America, for comparison, with a vastly higher income spends about 10% of its income on operation.
As to secret deals between Lego and FIRST, I eagerly await some credible documentation.
Yes, I do have a degree in business.
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Exothermic Robotics Club, Venturing Crew 2036
VRC 10A, 10B, 10D, 10Q, 10V, 10X, 10Z, and 575
Last edited by Rick TYler : 14-04-2008 at 22:20.
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