Red Cross On-Track To Erase $210 Million Deficit By 2010

By: Associated Press Email
By: Associated Press Email

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Thursday, March 19, 2009

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 chief executive Gail McGovern said during a stop in Denver on Wednesday that the charity has raised more than $85 million of a $100 million fund drive launched in September.

The Red Cross also received an infusion of $100 million in federal disaster assistance.

McGovern 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.

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