Tuesday, August 08, 2006

The Daily, Wednesday, July 26, 2006. Heritage institutions

The Daily, Wednesday, July 26, 2006. Heritage institutions: "n addition, their revenues exceeded the $1-billion mark, according to data from the Survey of Heritage Institutions, which covered approximately 1,300 for-profit and not-for-profit organizations.

While total industry revenue grew by 12.5% over 2002, expenses grew at a slightly higher rate (+12.8%), pushing the deficit to about 1.0% of total revenue.

Much of the deficit was due to the not-for-profit institutions, which recorded a shortfall of $21.3 million — despite an 11.9% increase in revenue from 2002. For-profit heritage institutions, on the other hand, had revenue growth of 19.2% and a profit of $9.8 million."

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