Lambda Legal's Revenue Fell 44% Last Year
At their web site, the Lambda Legal group makes two years' worth of IRS 990 filings available for public inspection on their governance and finance page, an action I laud because it's voluntary fiscal transparency. Sorry to report that there are no direct URLs available that would allow me to link to the IRS 990s, but you can find them through Lambda's main page.
The tax filing for 2009, which has been available since March, shows Lambda's revenue for last year was $11.7 million, versus $20.7 million in the previous year. That's a drop of 44%.
I last week requested comment from Lambda's executive director Kevin Cathcart, and two of his media reps, and despite several emails to them for a response, they have not gotten back to me. All I wanted to know was why there has been such a dramatic decrease in their revenue stream.
FYI, Kevin's compensation package for 2009 was $289,410, which is extremely close to his pay for the previous FY, and that amount was $290,916.
Last week, after I forced the Human Rights Campaign to post their latest IRS 990 filings on their site, I learned that their revenue had fallen 17%. Knowing now that Lambda has also experienced a huge drop in revenue, I see the beginning of a trend among Gay Inc orgs.
It's wrong of HRC and Lambda to have a bunker mentality about their IRS 990s and their financial health. I believe the community is owed answers and full, open discussions about why revenue is down.
Here's a radical idea to consider. All Gay Inc entities must inform the community the day their latest IRS 990 are available for public inspection, the filings are posted on the orgs' sites, a written explanation accompanies the release of the IRS 990s, and at least one town hall forum is held by the org to discuss their fiscal stewardship.
I hope Kevina and Lambda break their silence and give me some answers about their revenue decline.
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