So from 2020 to 2023 income increased 29%. However the surplus increased 220%. The net assets grew by 71% and the average salary to top charitable executives increased 155%.
What is remarkable is that they are running a $16 million surplus/profit on turnover of $72 million. That’s a level of profitability many commercial businesses would love to achieve, let alone a charity.
Now good on them for being so profitable, so they can use their surplus to help more charitable causes. But it does make you wonder if the Government is getting value for money for its contracts, considering the huge level of surplus achieved.
David Farrar runs Curia Market Research, a specialist opinion polling and research agency, and the popular Kiwiblog where this article was sourced. He previously worked in the Parliament for eight years, serving two National Party Prime Ministers and three Opposition Leaders.
What is remarkable is that they are running a $16 million surplus/profit on turnover of $72 million. That’s a level of profitability many commercial businesses would love to achieve, let alone a charity.
Now good on them for being so profitable, so they can use their surplus to help more charitable causes. But it does make you wonder if the Government is getting value for money for its contracts, considering the huge level of surplus achieved.
David Farrar runs Curia Market Research, a specialist opinion polling and research agency, and the popular Kiwiblog where this article was sourced. He previously worked in the Parliament for eight years, serving two National Party Prime Ministers and three Opposition Leaders.
5 comments:
And just where does the money come from?
Adding to Dougs question - who does the auditing?
Where (who) are the profits distributed to?
Something smells a funny colour!!
So many questions to be asked and I have zero faith that they will be adequately answered.
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