On 22/09/2007, Ray Saintonge saintonge@telus.net wrote:
Thomas Dalton wrote:
Remember, WMF is non-profit - one of the biggest problems for profit making businesses is that they have to report profits in one currency, so even if the actual money isn't being converted, they still have to convert it on paper - the WMF doesn't have to worry about that.
Non-profits have to file financial reports too, and also need to convert currencies.
Yes, but they don't count for as much. If a for-profit reports a 10% drop in profits, that's a very bad thing, even if it's just because the currency they're reporting in has dropped 10% against the currency they are earning in. A non-profit's success is not measured in currency, so is not as directly affected by exchange rate shifts.