Where Does $100 to the Boy Scouts Go (2020)?
The Boy Scouts of America (Boy Scouts) is a tax-exempt, non-profit 501 (c) (3) organization headquartered in Irving, Texas. As one of the largest youth organizations in the US, the Boy Scouts has gone through some tough times the past few years with allegations of child sexual abuse by scoutmasters and other leaders that triggered a bankruptcy filing in 2020. With a recent settlement of $850 million for the thousands of sexual abuse victims, one has to wonder about the financial details of the organization.
In 2019, the Boy Scouts sold a large block of securities presumably to offset a $135 million insurance expense and $85 million in insurance claims, both of which contributed to a deterioration in net assets from $532 million to $408 million.
Paddock Post 