Please keep in mind when looking at the totals of what the LVPCC has given to our charitable partners, the place in your equation of RETAINED EARNINGS.
Simply put, retained earnings are profits that are plowed BACK INTO a business and not paid out.
Retained earnings are only allowed for a "Stated corporate purpose". You can NOT use retained earnings as a piggy bank. If you do need the money for something, PAY IT OUT!
There are a lot of enterprises these days that think they can be Capitalists without having any Capital. Rent, don't buy. Hire out whole processes to others so you don't have to pay to start or maintain it in-house. and a hundred other clever ways to pay OUT without investing IN.
When we were in the first home of the PHOF, the rental next to the theater, we paid 5600 dollars a month to an ASSHOLLE landlord who never fixed anything unless you bitched up a storm. Ii was money 100 percent WASTED. We grumbled every month and paid it, while retaining our EARNINGS in a bank account that we then used to buy the present building at 1610 E. Trop.
Since we moved into a home we OWNED and had paid for with RETAINED EARNINGS, we paid ZERO rent the whole time we were here. Then, when we committed to the new strip location by going to a land auction and having the winning bid, we sold and leased back 1610 only long enough to build on the Strip. What we sold the old place for was 1.2 million MORE than we paid for it, meaning that we had NEGITIVE RENT every month we were there.
Now let's look down the road to the END OF THIS PROJECT. At some time, ALL projects must end. At that time, the building we are working so hard and long today to quire will be sold for at least what we paid for it, most likely a LOT MORE.
This money by law and IRS regulations can only be used for a charitable purpose. We have to give it away at the end.
So if you contribute today, it will allow us to more for those in need until we are done, and then 100 percent will be used to help more.
Of course this is an over simplification, but I brought it up because a lot of people are thinking that their donations are going to ongoing operations. They are NOT. They are being investing in our future.
And to buy cat treats for Porange!