Games with graphics
From ANIMAL PEOPLE, April 1995:
BOSTON––Is the Massachus-
etts SPCA running huge deficits––or earn-
ing enough profit to neuter every home-
less dog and cat in the state for free?
The financial statement sent to
members indicates the MSPCA lost $2.5
million in 1992 and 1993, but IRS Form
990 filings show gains of $2.7 million.
Divided among the 150,000 dogs and cats
taken in by Massachusetts shelters each
year, the $5.2 million gap could provide a
neutering subsidy of $34.66 per animal.
“The difference between the
federal Form 990 and the MSPA’s own
brochure is of format only,” says MSPCA
vice president of finance and administra-
tion Howard Levy. “The Form 990
includes realized gains (or losses) on
investment securities in Line 18, ‘Excess
or (deficit) for the year.’ The MSPCA
financial brochure does not include such
gains or losses in the line titled ‘Excess
(deficiency) of total revenues and support
over total expenses.’ The MSPCA
brochure does, however, report realized
gains (or losses) on the sale of securities
on the very next line.”
In other words, the line the
MSPCA statement seemingly represents
as “the bottom line” is not the bottom line,
since it excludes endowment revenue.
The 29 lines of figures above
the false bottom are each stated to the last
dollar––but below, the endowment fig-
ures appear “in thousands of dollars.”
Thus the total endowment, worth from
$44.5 to $48.2 million, looks at a glance
like a mere $44,500 to $48,197.
“We feel that the format used by
the MSPCA’s financial brochure presents
a true and clear representation of the
Society’s financial position,” Levy said.
