"The Hidden World of Nonprofits" in Minneapolis 2011
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Ron Campbell presents "The Hidden World of Nonprofits" in Minneapolis on Oct. 4, 2011 at the Star Tribune during the Reynolds Center's free workshop, "Business Journalism Boot Camp." For more information about free training for business journalists, please visit businessjournalism.org.
Transcript of "The Hidden World of Nonprofits" in Minneapolis 2011
Ron is a staff writer for The Orange County Register where he pioneered the paper’s computer-assisted reporting program. He has investigated charities, penny stocks, immigration and the buying and selling of human body parts.
CampbellRONALD
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Nonprofits are everywhere – in health care, education, culture,
the economy – everywhere except the news.
HIDDEN IN PLAIN SIGHT
www.guidestar.org• Free access 3 years of 990s• Premium ($300 for IRE members) unlimited access
FOLLOW THE MONEY
Your new best friend
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Minnesota: a hotbed of nonprofits
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• Health care• Blue Cross/Blue Shield, Mayo Clinic
• Universities• St. Thomas, St. Olaf, U of M Foundation
• Cultural centers• American Public Media, Guthrie Theatre
Nonprofits in Minnesota
• Tiny charities ($25k/$50k) file 990-N “e-postcards”• … or nothing at all (churches)
THE MONEY TRAIL
Filing thresholds for 990 vs. 990-EZ
2008 2009 2010Receipts $1 mill. $500k $200kAssets $2.5 mill. $1.25 mill. $500k
THE MONEY TRAIL, CONT.
•Pages 1-2: ABC’s, purpose •Pages 3-4: Preview of coming attractions• Pages 5-6: Catchall• Pages 7-8: Pay!!!
INSIDE THE 990
• Page 9: Revenue• Page 10: Expenses• Pages 11-12: Balance sheet, and reconciliation
INSIDE THE 990, CONT.
Great information, starting at the top
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A hint of what’s to come
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Life, the universe and everything
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Anatomy lesson: the checklists
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More questions, more answers
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Who’s in charge here?
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Money, money, money!
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But wait -- there’s more!
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How the money rolls in
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Where all the money goes
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Balance sheet: the assets
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Balance sheet: liabilities and endowment
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It started with a lima bean field, became “an international shopping destination,” and then …
CASE STUDY: ORANGE COUNTY PERFORMING ARTS CENTER
Performing Arts Center, opened August 1986
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• Founded 1979.• Opened 3,000-seat hall 1986.• Opened 2,000-seat concert hall and theater 2006.• Privately funded for 20 years.
CASE STUDY: OCPAC
Concert hall, opened September 2006
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OCPAC’s board members and donors represent the power structure of the nation’s sixth-largest county. They include the billionaire co-founder of Broadcom and owner of the Anaheim Ducks hockey team (right), a former ambassador to Spain, many millionaires and corporate executives, even a onetime aide to former President Nixon.
CentralHeavy hitters
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Before the fall …
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O.C. Performing Arts Center finances, 2005-2009
$-
$15,000,000
$30,000,000
$45,000,000
$60,000,000
$75,000,000
$90,000,000
2005 2006 2007 2008 2009 2010
Programs
Other
Donations
Expenses
Ugly bottom line
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Troubled balance sheet
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OCPAC financial assets, 2008-2010
$0
$50,000,000
$100,000,000
$150,000,000
$200,000,000
$250,000,000
$300,000,000
2008 2009 2010
Stocks, bonds
Pledges
Cash, savings
Six-figure carpenters
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Investments in 2009 (top) and 2010 (bottom)
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Culture with a $240 million price tag
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http://emma.msrb.org• Created by Municipal Securities
Rulemaking Board• Links to offering statements, other
documents
A NEW TOOL
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EMMA search
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$240 million bond issue
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Digging deeper: Continuing disclosures
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Chapman finances, 2005-2010
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2005 2006 2007 2008 2009 2010
$(50,000,000)
$-
$50,000,000
$100,000,000
$150,000,000
$200,000,000
$250,000,000
$300,000,000
2005 2006 2007 2008 2009 2010
Other
Programs
Donations
The sounds of prosperity
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Chapman on EMMA - the search
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Chapman EMMA results
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Chapman income, 2000-2009
$-
$50,000,000
$100,000,000
$150,000,000
$200,000,000
$250,000,000
$300,000,000
2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010Donations Programs
Mean program revenue: $182.9 millionStandard deviation: $44.6 million
Mean donations: $27.3 millionStandard deviation: $8.6 million
