06 Apr '06 15:03>
Originally posted by StarrmanOf course they are and LH knows it. And the RCC hierarchy could decide to sell St. Peter's Basilica tomorrow no matter what the rank and file Catholic wanted or desired. There is even less accountability for their financial dealings than there is in a democratic government as Scribbles pointed out. But that has no bearing on whether the accumulation of assets makes a non-profit or governmental agency "richer"; it clearly does.
I work for a not-for-profit organisation; a charity called Crossroads, as a fundraiser. Now if we raised funds (ie didn't use our own money) to build a building (a church for example), once the building had been finished it would become a fixed asset and would be deemed to have increased our financial holdings. We could sell it, rent it, or keep it. Eith ...[text shortened]... asset in our accounts.
Fixed assets in NPOs are considered as increased financial holdings.