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Originally Posted by morgin
This is where I’m at.
1) it’s unfortunate that the big gala and sporting charity events that raised 1.1 million cost $950k to run or whatever, but if people know the return is limited and realize they are mostly paying to rub shoulders in a fun environment, then so be it.
If they did the reporting on 10 year historicals, I wonder how much different it would look.
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Quote:
Originally Posted by Table 5
Perhaps they need to be renamed the Flames Party Planning Committee.
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Except that even though the article says that - it actually has nothing to do with how the Flames Foundation raises money.
They had total expenses of $550k for their fiscal year ending June 2018 - which is about 12% of their total revenue ($4.4M).
The biggest way the Flames Foundation actually raises money is via the 50/50 draws - which is probably the least aggressive form of fundraising they could do.
That CBC article is completely irresponsible IMO. Look at a a tax return for a single year to try and come up with a story - when timing with this sort of thing is always so important.
Also frames having a reserve as being a bad thing - which it could be but it isn't guaranteed to be. What it does mean is that a big project or donation of some sort could be coming soon. As Locke pointed out the $1M donation they just made to the Childrens Hospital for example would likely come out of that reserve - probably not a bad thing.
This whole article puts the Flames Foundation in a really bad spot now though IMO. They are being villanized in the media today for no good reason due to a lack of context and research in that story. They could come out next week with what was a planned donation of $5M or something to help build a hospital wing, or a local rink or something, but then would just get the "Well they are only doing that because they were outed last week" response.
Hate these sort of pitchfork articles that are half baked with sensationalized headlines and don't tell the whole story. CBC is great at putting them together lately too.