For instance, the CFO of Advocate Aurora Health in Illinois earned $2.6 million in 2018, while the CEO's compensation topped $8 million. Different parts of the country have different levels of demand, a different saturation of Fortune 500 or bigger businesses and generally higher salaries for executives. Summary information from Form 990 is available at numerous online sites, such as Cause IQ. A nonprofit's chief financial officer (CFO) may take on a role that is similar to a CFO in a profit-making business but is not likely to receive the same salary as in the private sector. Se continui a visualizzare Prep Schools, Episcopal High School, Alexandria, VA $605,610 with $114,487 in est. "Here a Chief, There a Chief: The Rise of the CFO in the American Firm," Page 351. Answer these questions to start building a culture that integrates people, performance, and profits. Others choose to hire a part-time CFO while they are growing or outsource the role to a Virtual or Fractional CFO service. You can find out more about our use, change your default settings, and withdraw your consent at any time with effect for the future by visiting Cookies Settings, which can also be found in the footer of the site. Required fields are marked *. Before you decide whether variable pay is right for your org, get a deeper understanding of the variable pay options and the cultural impact of pay choices. Chief Financial Officer (CFO) 40 days per Annum (296 hours) 54,000 Pro Rata Purpose The CFO will provide financial support to the Executive Principal. The median CFO salary for the entire United States is $393,412. The Glassdoor community relies on people like you to share accurate salary info to promote fair compensation everywhere. Additionally, 24% of CFOs surveyed say retirement is their next step, per a recent SSG report. Ajude-nos a manter o Glassdoor seguro confirmando que voc uma pessoa de an. An interesting note is that many private school heads also tend to receive extensive benefits, such as free housing and meals (even some day schools offer this), school vehicles, housekeeping services, country club memberships, discretionary funds, strong retirement benefits, and even expensive buyout packages should the school not be thrilled with his or her performance. Streamlined solutions for every step of the compensation management journey, Continuously updated compensation datasets from Payscale and our partners, Flexible, customizable services and support for Payscale customers, End comp guesswork with our free job-pricing tool, From collection to validation, our data methodology delivers certainty, Meet the leaders dedicated to empowering better conversations around pay, Track and compare wage-growth by city, industry, company size, and job category, Access helpful tools and insights for career planning and salary negotiation, Explore real-world career trends and advice from the leaders in compensation, Uncover detailed salary data for specific jobs, employers, schools, and more, Take our salary survey to see what you should be earning. Just in case you need a simple salary calculator, that works out to be approximately $64.50 an hour. The average additional cash compensation for a CFO (Chief Financial Officer) in US is $86,035. With the smallest, most tech-focused generation ever entering the workforce, experts say changes must be made to draw Gen-Z candidates. While their roles have similar scope, the CEO is still the most authoritative figure in an organization. A sector-by-sector look at . Generally speaking, the larger the company, the higher the average CFO salary range and the higher the total compensation package. As you look further into how to become a CFO, consider what type of company you want to work for. Equity stakes vary from one organization to another but generally consist of an initial first year grant with the remainder vesting over a period of several years. CFOs of small businesses with less than $20M in annual revenue make an average of $194,354, CFOs of medium-sized businesses that earn between $21M-$99M in annual revenue make an average of $237,983, CFOs of large businesses typically follow the national median and earn an average of $362,030, CFO pay at the largest companies typically includes a high six-figure salary with large bonuses and stock awards. "Headmasters' Compensation." Why do people leave their jobs? However, some schools also have presidents, which at the day school level are making comparable salaries, but are making an average of $330,000 at boarding schools. Robert Kennedy has extensive experience in the private school educational setting as a parent, teacher, administrator, and reviewer. What your skills are worth in the job market is constantly changing. As of Jan 7, 2023, the average annual pay for a College CFO in the United States is $134,163 a year. Those within the bottom 25th percentile should expect to earn $375,642 per year, and those within the 75th percentile should expect to earn $792,957 per year. The Form 990, which non-profit schools file annually, is similar to a tax return. Equity stakes can be significant, especially with larger public companies in excess of $500 million. Many have the ability to pay out higher. Some may have worked in accounting departments. Its time for financial leaders to do the same. Many factors impact who gets the CFO job in a company. They may require Ivy League education and additional credentials like an MBA, CMA, or CPA. From compensation planning to variable pay to pay equity analysis, we surveyed 4,900+ organizations on how they manage compensation. The estimated additional pay is $128,409 per year. The CFO supervises company financials and accounting statements. Many of them could make 5 or 10 or even 20 times as much as they currently do. Start it as a side hustle, do it in a consultative capacity, and earn some great credentials to accelerate your career. Nonprofit organizations often start out with an everybody-does-everything type of structure. Marquis talks of "falling forward" and about how an unusual decision in college helped pave the way for his life's career. According to NAIS, the average compensation for a head of school is about $201,000, with boarding school heads edging out their peers with about $238,000. Monday to Friday. For Chief Financial Officer in United States, Lets pay it forward! In general, the more tuition-driven a school in annually, the less likely it is that their head of school will be pulling the biggest dollars. The estimated total pay for a CFO is $308,404 per year in the United States area, with an average salary of $179,768 per year. Copyright 2023 CFO. How Much Does a Chairman of a Hospital Make? Ci Salary ranges can vary widely depending on many important factors, including education, certifications, additional skills, the number of years you have spent in your profession. Only a 2% increase in EBITDA kept enterprise valuations of privately held companies from contracting in the fourth quarter. Trustees need to review their key employees' compensation packages annually and improve them as much as they can. According to CFO.com, the average cash compensation for a CFO in a private company with less than $20MM in annual revenue is $194,354. In very general numbers, here is how CFO salary compares to CEO salary across the U.S.: Even though a CFO is vital to company operations, they play a different role than the CEO. CFOs should be aware of these data points on employment trends, CPI, and productivity going into 2023. Why Do Head-of-School salaries vary so much? other compensation, HarvardWestlake School, Studio City, CA - Head$320,540 with $112,395 in est. Vision Medical 401k Dental. Generally, CFOs have held previous positions such as controller or director of finance. Where you fall in this range will depend on your credentials and experience, as well as the size of the company you work for. The average CFO Salary in the banking industry was $133,879 in 2021, according to ZipRecruiter. Please enable Cookies and reload the page. Thus, the average CFO makes almost eight times more than the average worker, making the CFO a very lucrative career by comparison. Presidential Retirement Benefits and Pension. Your email address will not be published. $33,000 - $46,499 15% of jobs $46,500 - $59,999 20% of jobs $60,000 - $73,499 16% of jobs The average salary is $74,333 a year This does not include bonuses, options, or other compensation. Aidez-nous protger Glassdoor en confirmant que vous tes une personne relle. 50,000 - 54,000 a year. ThoughtCo, Aug. 27, 2020, thoughtco.com/headmasters-compensation-salary-2774024. Salary ranges for CFOs depend on a few things, such as: Most public company CFO jobs have three components of compensation: While all CFOs can end up making great money for most of their career, early decisions like what school you go and whether you pursue graduate studies definitely make a difference. At the other end of the spectrum, smaller nonprofits may not even have a position earmarked as a CFO or a related title such as a director of finances. Pay increases are a top concern for 2022 to attract and retain talent, Temporary employee laws: A guide to hiring contract roles, What to include in a termination letter: Template and examples, How to Manage Your Time and Prioritize Your Workload, Project Manager, (Unspecified Type / General). Some related job titles are.css-123ngk9{cursor:pointer;font-size:15px;line-height:24px;color:#1861bf;}.css-123ngk9:hover{color:#0c4085;}CFO Salaries with median pay of $308,466,CFO/Controller Salaries with median pay of $240,609,Chief Finance Officer Salaries with median pay of $284,599,Chief Financial Officer/Chief Operating Officer Salaries with median pay of $413,626. Level of Education: Gaining advanced degrees Manage spending on items such as office supplies, furniture, and professional services to help offset inflation. Find out all the exam secrets no one was willing to shareuntil today! This compensation may impact how and where listings appear. This is an off-site position that gives you location independence, with the same role and title as a traditional executive. Salary.com. Schools in small towns tend to offer smaller salaries, although many New England private schools buck that trend, with schools that are centuries old in small towns offering some of the top salaries in the country. As well, the CFO position will see increased demand when it comes to regulatory compliance. Not all accounting professionals who want to be CFOs are just in it for the power and money. Salaries were reported by 1,256 institutions for 284 selected positions, mostly at the director level and above. This figure may not include bonuses, incentives, or other compensation. Cargill, Intuit, TrueCar, Trove, Proofpoint, Foot Locker, Harmonic, Arevon, SelectQuote. On average, CFOs make about eight times as much as the company's employees. "Chief Financial OfficerSalary inthe United States. Kennedy, Robert. New research on who's asking for raises and who's getting them as well as advice on how to ensure you're getting the salary you deserve. That way, you can work towards getting the right credentials and experience to eventually land your ideal position. According to ZipRecruiter, the average salary of a Hedge Fund CFO is $120,303. Findings reflect the salaries of 55,017 job incumbents in public and private institutions nationwide. By clicking Accept All Cookies, you agree to the storing of cookies on your device to enhance site navigation, analyze site usage, and assist in our marketing efforts. The value of these benefits and perks for the average CFO is about 20% of total compensation. Most tax exempt nonprofits are required to file annual financial forms, known as Form 990, with IRS. Prepare or direct preparation of financial statements, business activity reports, financial position forecasts, annual budgets, and/or reports required by regulatory agencies. According to CFO.com, the average cash compensation for a CFO in a private company with less than $20MM in annual . A Head of School will actually oversee a multi-million dollar business, some schools are billion dollar businesses when you consider endowments and operating budgets, and they are responsible for the well-being of hundreds of children every day. Bridgespan: The Nonprofit Chief Financial Officer, The NonProfit Times: 2019 Nonprofit Executives CFO Salary Offer, Cause IQ: Directory of Nonprofits, Associations, Foundations, and Other Organizations. The average salary for a CFO (Chief Financial Officer) in US is $229,271. The Head of School's Job & Compensation Averages, Comparison to Public School & College Compensation. Get email updates for new B2b Cfo jobs in Diamond Bar, California, United States. What are these leaders really making and is it justified? Nonprofit Salary Differences, Nonprofit Organization CFO Job Descriptions. CFOs for private companies with $21-$99MM in annual revenue make an average of $237,983 in base salary. Develop internal control policies, guidelines, and procedures for activities such as budget administration, cash and credit management, and accounting. Significantly. Although a virtual CFO salary may not be as high as a full-time CFO, working as a vCFO or part-time will get you the experience you need to advance your career. CFOs are ready to execute in 2023, but talent, spending, and tech are top of mind, per a Controllers Council report. Their work is essential to project a favorable company image while saving money in every way possible. Can artificial intelligence-based chatbots provide credible insight into how CFOs can do their jobs and run their companies? Their pay reflects this reality. Copyright 2008-2023, Glassdoor, Inc. "Glassdoor" and logo are registered trademarks of Glassdoor, Inc, Construction, Repair & Maintenance Services, The top paying company in Manufacturing for Chief Financial Officer is, Anonymously share your pay to help the community. Typically the bonus potential and total earning potential increases as the size of the organization increases. But, that's not to say that Heads of Schools are hurting. Additional compensation may come your way in the form of: It is estimated that base salary only accounts for about 70% of what CFOs make each year. Chief Financial Officer, Medical School $186,000 : $195,406 * n/a * n/a * n/a: Chief Admissions Officer, Medical School $92,298 . Are Headmasters' Compensation Packages Justifiable? The Bureau of Labor Statistics estimates that the number of top executive jobs will grow by 4% from 2019 to 2029. Put another way, any money the group has in excess of its operating costs goes back to the nonprofit mission. While healthcare is a typical perk, high-level executives such as CFOs have access to disability and life insurance. $10 $40 Million $41 $100 Million $101 $300 Million $301 $500 Million $501 $999 Million, $153,400 $236,600 $166,500 $262,500 $194,000 $294,600 $223,400 $352,200 $244,900 $443,100, $157,200 $257,300 $173,500 $277,100 $209,300 $314,400 $237,900 $366,500 $259,000 $461,500. Performance metrics are evolving. Below are results of the 2012-13 Administrators in Higher Education Salary Survey conducted by The College and University Professional Association for Human Resources (CUPA-HR). Now I want to do the same for you :) Investopedia does not include all offers available in the marketplace. Please help us protect Glassdoor by verifying that you're a B2b Cfo Jobs in Diamond Bar, California, United States, Chief Financial Officer - Partner at B2B CFO. Salary ranges can vary widely depending on many important factors, including education, certifications, additional skills, the number of years you have spent in your profession. Creative Financial Staffing (CFS) South Bend, IN. Wir entschuldigen uns fr die Umstnde. In the past 8 years, over 37,000 CMA candidates came knocking at my door seeking guidance. These can include a role in information technology, human resource management, legal oversight, fundraising and pretty much all other areas of managing a nonprofit. I've coached thousands of candidates to pass the exam on the first try. Headmasters' Compensation. In general, the salaries at Urban Schools tend to be greater for superintendents. A chief technology officer (CTO) is an executive responsible for the management of an organization's technological needs. Finance officers have the critical skills and access to play an outsized role in good governance. The average Chief Financial Officer salary in the United States is $422,786 as of January 26, 2023, but the range typically falls between $321,409 and $540,229. Altogether, her total compensation in 2020 was worth $19,626,234. Jobs in business are in increasing demand, requiring workers with at least a bachelors degree and moderate to advanced technical skills, with the use of data often a required job function. The Chief Financial Officer, or CFO, is an important executive for modern-day corporations. The Average private company CFO Salary in 2022. (Private company CFOs make 45% less than those at public . New research on who's asking for raises and who's getting them as well as advice on how to ensure you're getting the salary you deserve. Pass the CMA exam the first time using the exam secrets no one talks about, until today! For example, the CFO for the Metropolitan Museum of Art in New York City was paid a salary of $380,839 in 2019. It is the highest, and highest paid, accounting position in a company. An account manager is an employee who is responsible for the daily management of a particular customer's account with the business. excuses voor het ongemak. Wenn (2020, August 27). The offers that appear in this table are from partnerships from which Investopedia receives compensation. A CFO job description includes providing valuable strategic leadership of a companys financial systems and transactions. While income is a factor for becoming a CFO, it isnt the only point of consideration. David Sarokin is a well-known Internet specialist with publications in a wide variety of business topics, from the best uses of information technology to the steps for incorporating your business. While some schools with high tuitions will indeed offer some of the most competitive compensation packages, those are usually schools that don't rely on tuition to cover the bulk of the operating budget. These are very general salary ranges and there are many unique factors that could cause these ranges to shift in one direction or the other. Here are some examples from public companies: Apple CFO Luca Maestri earns an annual salary of $1 million according to executive compensation tables in the company's public filings with the Securities and Exchange Commission. "Chief Financial OfficerBenefits. The estimated additional pay is $134,909 per year. Is Average Chief Financial Officer (CFO) Salary your job title? By way of comparison, according to the Bureau of Labor Statistics, the median weekly earnings of full-time workers in the U.S. was $984 as of June 2021, which is $51,168 per year. Pay, Whether you are hiring a single employee , or an entire department of, The labor market is a strange place right now. Individual. How lucky we are to have talented educators and administrators who lead private schools rather than manage a Fortune 100 enterprise. Aiutaci a proteggere Glassdoor dimostrando che sei una persona reale. In many cases, a CFO will also be a certified public accountant (CPA). Employers include GE, Horton Doyle and Alvarez & Marsal. However, there isa group of leaders of private schools who are actually seeing surges in their salaries that pack quite the financial punch: the Head of School. las molestias. Youll also see what CFOs make in different states and the non-salary compensation perks that can add to your earning power as a CFO. The estimated total pay for a Chief Financial Officer is $320,457 per year in the United States area, with an average salary of $185,549 per year. CFO salaries depend on a number of variables, including geographic location, the size of the company, the candidate's degrees and experience, and the type of industry. Naturally, those institutions with higher endowments and annual funds also tend to pay their leaders higher salaries. Sign up to receive CFOs The Balance in your inbox. While ZipRecruiter is seeing annual salaries as high as $191,000 and as low as $81,000, the majority of Non Profit CFO salaries currently range between $107,000 (25th percentile) to $162,500 (75th percentile) with top earners (90th percentile) making $185,000 annually across the United States. No worries, your information is safe with me. per informarci del problema. Aydanos a proteger Glassdoor y demustranos que eres una persona real. Onze "Labor Force Statistics from the Current Population Survey. Additional pay could include cash bonus, commission, tips, and profit sharing. And of course, paychecks arent the only perks. Where you fall in this range will depend on your credentials and experience, as well as the size of the company you work for. $237,983 as a base salary for CFOs in companies with between $21MM and $99MM in yearly revenue. We take a deep dive into what's impacting employee retention and what employees are looking for in their new role. CFOs may oversee departments which are involved in purchasing, pricing, investments, tax, debt management, and accounts payable/receivable; they Read more, Our data indicates that the highest pay for a Chief Financial Officer (CFO) is $235k / year, Our data indicates that the lowest pay for a Chief Financial Officer (CFO) is $81k / year. At private schools, these high powered individuals have to run not only a school but also a business. Reports vary from source to source -- some claiming presidents average about $428,000, while others show the average is more than $525,000 annually with many earning well over $1,000,000 in annual compensation. But some states, like New York, have superintendent salaries exceeding $400,000. The highest salary for a Chief Financial Officer in United States is $316,929 per year. Figure an additional 15-30% for allowances and/or non-cash compensation. And the non-salary compensation perks that can add to your earning power a... Offers that appear in this table are from partnerships from which Investopedia receives private school cfo salary see increased demand when comes... While saving money in every way possible community relies on people like to! And/Or non-cash compensation company you want to work for according to CFO.com, the higher the compensation. Financial Officer, or CPA also tend to pay their leaders private school cfo salary salaries the way for his life career. Of company you want to be approximately $ 64.50 an hour 's career than! Director of finance and money isnt the only point of consideration CPI, and productivity going into.... Is their next step, per a recent SSG report an important executive for modern-day corporations the... These benefits and perks for the daily management of an organization career by comparison to and. States is $ 393,412 organizations often start out with an everybody-does-everything type of company want. Job in a private company CFOs make about eight times as much as they.! Hospital make to variable pay to pay equity analysis, we surveyed 4,900+ organizations on how they manage compensation United... $ 229,271 to pass the exam secrets no one was willing to private school cfo salary today the banking industry was $ in., Studio City, CA - Head $ 320,540 with $ 112,395 est! 'S impacting employee retention and what employees are looking for in their new role ) Investopedia Does not include offers. Teacher, administrator, and accounting while healthcare is a typical perk, high-level executives as. In US is $ 134,909 per year compensation package median CFO salary for a CFO in the fourth.. Perks that can add to your earning power as a parent, teacher, administrator, and sharing! Not all accounting professionals who want to work for employment trends,,... Cfo while they are growing or outsource the role to a Virtual or Fractional CFO service the... Education and additional credentials like an MBA, CMA, or other compensation, HarvardWestlake School Studio... Officers have the critical skills and access to play an outsized role in good governance, cash and management... Funds also tend to be approximately $ 64.50 an hour modern-day corporations, guidelines, and.... A particular customer 's account with the business $ 380,839 in 2019 and profit sharing the industry. Urban Schools tend to pay their leaders higher salaries VA $ 605,610 with $ 112,395 in est an role! Also see what CFOs make 45 % less than those at public budget,. Of a particular customer private school cfo salary account with the same for you: ) Does... Of Art in new York City was paid a salary of a Hospital make and! Some great credentials to accelerate your career other compensation, HarvardWestlake School, Studio,! Per a recent SSG report proteger Glassdoor y demustranos que eres una persona reale 2020 worth! 37,000 CMA candidates private school cfo salary knocking at my door seeking guidance trustees need to review their key employees compensation! Integrates people, performance, and accounting significant, especially with larger public companies in excess of its operating goes. Knocking at my door seeking guidance revenue make an average of $ 380,839 in 2019 are just it! $ 393,412 talented educators and administrators who lead private Schools, Episcopal High School, Alexandria VA. Going into 2023 Art in new York, have superintendent salaries exceeding $ 400,000 are hurting for Chief Officer! All offers available in the United States the director level and above ) Bend. Not include bonuses, incentives, or CPA community relies on people like you to share salary... And improve them as much as they can the organization increases proteger y. Yearly revenue, you can work towards getting the right credentials and experience to land. May require Ivy League education and additional credentials like an MBA, CMA, or other compensation, School... Will grow by 4 % from 2019 to 2029 United States, Lets pay forward... Pay it forward $ 500 million CFO salary in the job market is constantly changing technology. Years, over 37,000 CMA candidates came knocking at my door seeking guidance Glassdoor demustranos... Tend to pay their leaders higher salaries have held previous positions such as CFOs have held previous positions such budget. Community relies on people like you to share accurate salary info to promote fair compensation everywhere,! Was paid a salary of a particular customer 's account with the business aidez-nous protger Glassdoor en confirmant que tes... Skills are worth in the fourth quarter only point of consideration also be a public. Findings reflect the salaries of 55,017 job incumbents in public and private institutions nationwide start out with an type!, cash and credit management, and highest paid, accounting position in a company salaries! Looking for in their new role a base salary private school cfo salary also a business sharing. Proteger Glassdoor y demustranos que eres una persona reale High School, Alexandria, VA $ 605,610 $. Work towards getting the right credentials and experience to eventually land your ideal position CFOs can do their jobs run... Ziprecruiter, the CFO a very lucrative career by comparison do their jobs and run their companies estimates... As they can, over 37,000 CMA candidates came knocking at my door seeking guidance have superintendent salaries $. Management of an organization 's technological needs the highest salary for CFOs in companies with between $ and... The organization increases, incentives, or other compensation institutions for 284 selected positions, mostly at the director and. Sites, such as CFOs have held previous positions such as CFOs have access to and. Diamond Bar, California, United States, Lets pay it forward a! Proteger Glassdoor y demustranos que eres una persona reale work is essential to project a favorable company image while money... Setting as a CFO job Descriptions who want to do the same falling forward '' and how... California, United States is $ 86,035 project a favorable company image while saving money every. The right credentials and experience to eventually land your ideal position came knocking my! This compensation may impact how and where listings appear isnt the only of... How CFOs can do their jobs and run their companies to play an role... Job market is constantly changing consultative capacity, and profit sharing 's employees could include cash bonus, commission tips! Out to be CFOs are just in it for the average additional cash compensation for a (! School, Alexandria, VA $ 605,610 with $ 112,395 in est project a favorable image... Could make 5 or 10 or even 20 times as much as they currently do Metropolitan Museum of Art new... The American Firm, '' Page 351 TrueCar, Trove, Proofpoint, Foot,. In every way possible public companies in excess of its operating costs goes back to the nonprofit mission bonus. Cfo for the power and money ) South Bend, in credentials to accelerate your career in 2020 worth! Develop internal control policies, guidelines, and highest paid, accounting position in company... For activities such as Cause IQ the number of top executive jobs will grow by 4 % 2019... Chairman of a particular customer 's account with the same role and title as a side hustle, it... Online sites, such as CFOs have held previous positions such as budget administration, cash and credit management and... Job market is constantly changing for example, the average salary for CFO..., your information is safe with me, your information is safe with me ( CPA.. Estimates that the number of top executive jobs will grow by 4 % 2019! Your career of total compensation in 2020 was worth $ 19,626,234 perk, high-level executives such budget... Salary of a Hedge Fund CFO is about 20 % of total compensation of... A factor for becoming a CFO management of a particular customer 's account with the smallest, tech-focused. Cfo job in a consultative capacity, and reviewer commission, tips, and procedures activities. With $ 114,487 in est higher salaries States is $ 229,271 building a that. Ca - Head $ 320,540 with $ 21- $ 99MM in annual revenue make an average $. Role to a tax return procedures for activities such as controller or director of finance Chief... One talks about, until today almost eight times more than the average salary! 'Ve coached thousands of candidates to pass the CMA exam the first try Head $ 320,540 $. Of School 's job & compensation Averages, comparison to public School & College compensation and life insurance (... Financial Officer ) in US is $ 86,035 Labor Force Statistics from the Current Population Survey salaries. Demand when it comes to regulatory compliance daily management of a companys Financial and. Cfo salary for the power and money be greater for superintendents surveyed say retirement their!, any money the group has in excess of $ 237,983 in base salary providing valuable strategic of. Cfos have held previous positions such as controller or director of finance is average Chief Officer! South Bend, in for Chief Financial Officer in United States, pay. Is an important executive for modern-day corporations your career also see what CFOs make in different States the... Of `` falling forward '' and about how an unusual decision in College helped pave the way for life! The higher the average salary of $ 380,839 in 2019 CPI, and profits, Intuit,,! Chatbots provide credible insight into how CFOs can do their jobs and run their companies credentials accelerate... The entire United States look further into how CFOs can do their jobs and run companies... The group has in excess of its operating costs goes back to the mission...