[Foundation-l] Relocation announcement

[Thomas Dalton]

On 22/09/2007, Ray Saintonge <saintonge at 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.