All non-profit organizations are required to file a form 990 with the Internal Revenue Service, the non-profit’s version of a 1040. These documents are available for public inspection. In the case of the Adult Industry Medical Healthcare Clinic (AIM), their 990 contradicts rumors of wealth and expensive coats that have been going around the industry in regards to AIM and Sharon Mitchell, the non-profits executive director.
For the fiscal year of 2001, AIM raised $77,468 in contributions and $458,736 in fees for a total revenue of $536,204.
The bulk of the revenue, $477,892, went out the door to cover expenses. This year’s expenses are expected to exceed that figure.
This year’s expenses include approximately $20k a month in salaries for the staff of nurses, phlebotomists, doctors and others – including Sharon Mitchell’s salary (Mitchell takes home approximately $1650 per paycheck bi-monthly, a modest salary for someone with her educational background running a non-profit).
The lab bill for testing costs $40K-60K a month, depending on the amount of testing. The rest of the revenue goes toward the operational costs to the tune of $13K-17K a month. Besides fixed costs for things such as rent, the operational expenses also includes training for staff and various insurance policies that the clinic is required by law to take, some of which must be paid on quarterly, bi-annual or annual schedules.
AIM ended 2001 with approximately $494 in assets compared to $70,440 in liabilities. They finished $57,818 in debt, a deficit that was rolled over into 2002.
According to Mitchell, the organization was built to be solvent with 600 clients a month. Less than that and the health clinic may be forced to shut its doors.
