10 Charities in Deep Financial Trouble
If an organization owes more than it owns, that's a bad sign. If the bills it owes by the end of the year are more than it can pay, that's an even worse sign. These 10 charities are insolvent. Not only do their total liabilities, or what they owe, exceed their total assets, they also maintain negative working capital -- that is, the bills they owe exceed available assets that can be used to pay those bills. While these charities may not be facing bankruptcy, their fundamental insolvency puts these charities in a very dangerous position.
| Rank | Charity | Working Capital | |
|---|---|---|---|
| 1 | Indianapolis Symphony Orchestra | $-12,400,661 | |
| 2 | Hale House Center | $-10,376,110 | |
| 3 | Florida Grand Opera | $-7,895,694 | |
| 4 | Child Welfare League of America | $-4,866,040 | |
| 5 | Agape Villages | $-4,349,743 | |
| 6 | Phoenix Symphony | $-3,367,627 | |
| 7 | Teen Mania Ministries | $-3,017,475 | |
| 8 | Yeshivat Shaare Torah | $-2,472,159 | |
| 9 | Heart Support of America | $-2,084,861 | |
| 10 | Isidore Newman School | $-1,747,246 |
