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To: Gondring
Their 2009 IRS filing shows $1.5 million in cash.

It also shows $35mm in investments in securities and $56mm in other tangible assets.

So, he's sitting on $92.5mm and not $100mm.

16 posted on 05/23/2011 5:26:01 AM PDT by wideawake
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To: wideawake; thackney
Like I said, a cash-poor operation.

To me, "sitting on" implies a lack of use, and revenue these investments and other assets are employed to offset expenses, and, even then, only to a small extent compared to the total expenses. Most of the revenue is donations.

It's unclear from IRS filings what portion of those assets are actually employed in the business operations, but I think that our difference is in what is meant by "sitting on" them. I wouldn't say that a business that owns employee desks is just "sitting on" those assets. The chairs, however.... ;-)

20 posted on 05/23/2011 11:07:11 AM PDT by Gondring (Paul Revere would have been flamed as a naysayer troll and told to go back to Boston.)
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