Friday, January 14, 2011
Each year, nonprofits like the Association of American Law Schools must file a Form 990 with the Internal Revenue Service. The most recent filing by the AALS is for the year July 1, 2008 to June 30, 2009. The form is public information and readily available on the internet.. Here it is. If you read through it, you will discover the salaries of the top employees (page 7); its total revenue--$5,112,903 (page 9)--; its total functional expenses--$4,704,159 (page 10); and how much its assets/funds amount to—a lot (page 11),--and other information.
In today’s world, a number of nonprofits disclose detailed balance sheets. Their supporters demand financial transparency. Shouldn’t a certain organization get in step with the times?