Questions about FIRST Future

[MrRoboSteve]

Originally Posted by staplemonx

They already have a pretty hefty amount in the bank ($38,790,221 if I read the 990 right), what are they saving up for? http://www.guidestar.org/FinDocument...0c47c2e8-9.pdf

Some subtleties to the 990 that you might not be aware of.

In Part X, look at column B, which is the end of year.

Line 2 is cash -- $23.7 million. This you can spend. If you find a great deal on goats for next year's game piece, this is what you use.

The other lines in the Assets section aren't spendable.

Line 3 is donations people have promised, but not received. Think "we signed up a new donor at Champs, and they said they'd pay on September 30"

Line 4 is money they're due, but hasn't yet been paid, and isn't a donation

Line 8 is stuff they have that they intend to sell

Line 9 is things they've bought that they haven't yet gotten -- e.g., deposits on venues

Line 10 is improvements to HQ and fields, among other fixed assets

The 990 is a snapshot as of June 30. FIRST needs to pay bills between then and the fall, when payments are due (e.g., first regional payment for FRC was due on November 23). Imagine if you got one paycheck a year, on December 31. You'd look pretty flush if someone looked at your December bank statement.

25-50% of next year's expenses in cash, at year-end, would not be unusual for an organization that runs an annual program.