The American Red Cross (ARC) is one of the most recognized charities in the world. Based in Washington, DC, ARC works to “prevent and alleviate human suffering” by mobilizing employees and volunteers in emergencies and through the collection and sale of blood (ARC collects, tests, and distributes 40% of the nation’s blood). To do this, ARC relies on it’s 20,602 employees who were compensated $1.5 billion (an average of $74,500 each). 1,249 employees received more than $100,000 in compensation with the 17 most highly compensated employees listed below: Read more
The American Red Cross (ARC) provides a link on their website to the 2016 American Red Cross Tax Form 990 but the link is actually to the 2015 IRS Form 990 that covers the year beginning July 1, 2015 and ending June 30, 2016 – a year that was not one of ARC’s better years financially.
First, revenue was down by $100 million from $2.7 billion the year before to $2.6 billion in the most recent year. Second, overall net assets decreased by $600 million from $1.6 billion at the beginning of the year to $1 billion because the organization spent more ($61 million) than they raised, there was an unrealized loss ($146 million) on investments, and because there was a loss ($400 million) in the employee retirement pension and post retirement benefits fund (note: the organization’s largest liability – $1.1 billion – is to pension and post retirement benefits for its employees). Read more