Word: overheads
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Dates: during 1990-1999
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...doesn't help that many nonprofits have been torn by scandal and are perceived to be bloated with overhead. In March, New Era Philanthropy founder John F. Bennett Jr. pleaded no contest to charges of defrauding hundreds of charities and nonprofits of $135 million and siphoning off more than $3.5 million for his own use. Meanwhile, cash-strapped governments are no longer able to shoulder a broadening social agenda. If business wasn't stepping forward, despite its profit motive, where would the money come from to, say, restore the Statue of Liberty? American Express raised $1.7 million for that purpose...
This totals $73,735.20 out of an annual budget of $117,040. The remainder of the money goes either to overhead (elections, photocopying, etc.) or to the Committee Fund, from which money for events like Springfest is allocated. Unfortunately for students, much of the money that goes to the Committee Fund ($32,771.20) is wasted on unnecessary items like $8,500 bands...
Bezos scoffs at the B&N challenge, assuring the world--before descending into his required pre-IPO cone of silence--that Amazon's paper-thin overhead and laser-like Web focus will make it difficult for anyone to match it on price. Amazon doesn't carry the hefty cost of those comfy B&N superstores; for the most part, it just orders titles from warehousers and publishers on your behalf...
...National Health and Human Service Employees Union, whose members staff hospitals, clinics and doctors' offices in New York City, is starting its own health plan. The aim, says local president Dennis Rivera, is to "take for-profit out of the equation" and lower costs--not for care but for overhead and salaries. Eleanor Tilson, executive director of 1199's 320,000-member plan, makes $175,000 a year--peanuts compared with nearly any other HMO chief...
Returning from a night out, Gaither saw flames soaring from a mobile home. The young black man smashed through the door to pull out Larry Leroy Whitten, 44, then revived the white man with mouth-to-mouth resuscitation, heedless of the Confederate battle flag fluttering overhead. Gaither was hailed for his race-blind heroism, but says, "I don't deserve the attention. Someone would do the same...