Red Cross on track to erase deficit by 2010

By: KKCO Email
By: KKCO Email

Denver (AP) - The American Red Cross says it's on track to erase a $210 million deficit and balance its budget by next year.
Red Cross President and CEO Gail McGovern said during a stop in Denver on Wednesday that the charity has passed the $85 million mark in a $100 million fund drive launched in September.
McGovern says the Red Cross also received an infusion of $100 million in federal disaster assistance.
She says the deficit will be whittled down to $135 million this year.
The Red Cross dealt with six named storms that battered the U.S. Coast last year.
McGovern says spontaneous donations during disasters usually help the charity raise money, but the financial meltdown and other news stole the headlines last fall.

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