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The cost of sharing the hi-rent facility they are in, the travel expenses, the operating expenses, advertising and marketing expenses are all too high for the dollar volume of donations and receipts. Assets of the corp include cars from the collection; that's not liquid cash...they are stuck with the insurance and storage expenses on their balance sheet.
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Ron;
I did not mean for anyone to think I was saying they were stealing the money, but I would sure like to see some of the expense accounts for their travels!!!!!!!!!!!!
Do they really need as you say a "hi-rent facility", ever wonder about their travel expense, lodging,meals,etc...etc...I bet they don't eat at Burger King or travel by Grey Hound bus or stay at a Super 8 motel!!!!!!!!!
At the yearly SAAC conventions that CS attends, by the letter of the law, he could very well use money from the Heart Foundation to cover all his expenses since he does sign varouis items for a fee which is donated to the organization.....and his staff could very well do the same, ever wonder about this????? for that matter, he could expense any and all expenses to any event that he attends where he signs but just one autograph and collects just one dollar for the Heart Fund.....Wonder how many events he attends a year????
They may not be stealing the money for personal use, but they sure are spending charitable donations very freely to enjoy a "certain lifestyle".....Not illegal by the letter of the law, but very unethical by all means.............
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Again - there is no excuse for that. You can't say in one breath he's s shrewd business man - and in the next breath that he's a confused old man who doesn't know where his money is going - WTF - and again - all the while doing this in the name of sick kids - it's outrageous.
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I think the above quote says it all..............
David