Read Joseph McCafferty's article entitled "Misgivings" at CFO.com (January 2007); https://www.cfo.com/accounting-tax/2007/01/misgivings/ (accessed 12/10/19).

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)?