Letter: Profit Percentages

I wish to correct some misinformation in the article Lawsuits Threaten ACS' Nonprofit Status, Financial Health [The Scientist, Aug. 20, 1990, page 3]. It is stated that last year our Chemical Abstracts Service (CAS) generated a profit of more than $4 million on revenues of approximately $45 million. That is not correct. Last year, CAS generated $105.9 million in revenues, and after expenses, made a net contribution to the ACS of $4.2 million. Therefore, the return is approximately 4 percent, ra

Nancy Enright
Oct 14, 1990

I wish to correct some misinformation in the article Lawsuits Threaten ACS' Nonprofit Status, Financial Health [The Scientist, Aug. 20, 1990, page 3]. It is stated that last year our Chemical Abstracts Service (CAS) generated a profit of more than $4 million on revenues of approximately $45 million. That is not correct. Last year, CAS generated $105.9 million in revenues, and after expenses, made a net contribution to the ACS of $4.2 million. Therefore, the return is approximately 4 percent, rather than 9 percent, as implied in the article.

NANCY ENRIGHT
Head, Dept. of Public Communication American Chemical Society Washington, D.C.