In response to THE HOYA’s article on The Corp’s Annual Report and revenue this year, several students have commented on what they have perceived to be a discrepancy between The Corp’s profits and its philanthropic returns to its shareholders, the students of Georgetown. Many students have misunderstood the term “gross profit” to mean the money left over after The Corp pays off all of its expenses. Gross profit does not take into account a number of expenses, among which are wages and operational costs.

What students and other Corp patrons should concern themselves with is our net income, which is, in practical terms, the money that The Corp has after we have accounted for all our expenses and donations. For fiscal year 2007, this amount totals $169,872 and is supplemented by an impressive $36,456 given back philanthropically. That $169,872 is guaranteed to find its way back to our shareholders, whether it be through increased philanthropy in 2008-2009, improvements to The Corp’s current services on campus or in the form of new and exciting services offered to the students of Georgetown. We are a not-for-profit, and we stand by our mission of “Students Serving Students.” Rather than spurring questions over where The Corp’s profits go or the legitimacy of The Corp’s status as a non-profit, a financially successful year for The Corp, such as that seen in 2007-2008, should be a cause for excitement and pride among members of the Georgetown community who will directly benefit from this success.

Ted Reilly (COL ’08)
Outgoing President and CEO of The Corp
Jan. 30, 2008