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Thursday, January 19, 2006

(Non-profit) Ambulance Company Finances Are Probed

One of my pet peeves is when a non-profit does not spend a sufficient portion of its income on its primary and stated mission (like the PU which spends maybe 5% of its total net worth), or serves to greatly enrich those who control it (like this ambulance company apparently), or one which spends "charitable" funds on programs that may not be charitable efforts (like the PU which is spending $50Million or so to move an art museum).

So today's Inquirer has a story about a Philadelphia area non-profit ambulance company whose unpaid executives may have diverted a good part of donated funds to some non-ambulance purposes. These included remodeling one's home to the tune of $70,000, buying two jet skis for $14,000 and paying the tab at several strip clubs. Jeez, how do you expect these hard-working volunteers to unwind? Here is the link if you want to read the whole story.

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