Read Joseph McCafferty's article entitled "Misgivings" in CFO.com (January 2007); www.cfo.com/article.cfm/8477078/c_8483311?f5singlepage&x51 (last accessed 5/28/09).
a. Discuss your thoughts about not-for-profits claiming to raise funds without incurring any costs.
b. What would you consider a "reasonable" cost of fund-raising ratio and why?
c. Why would some types of not-for-profits (such as educational institutions) have different types of fund-raising ratios than others (such as museums or health-related organizations)?