In 2020, the Boy Scouts of America, a once-thriving non-profit organization, filed for Chapter 11 Bankruptcy. This means the organization can continue to operate while restructuring and attempting to pay off unsettled debts. The organization has more than $1 billion in assets, according to a New York Times report.
The Boy Scouts of America has been engrossed in legal battles regarding the sexual abuse of minors. Their records show that over 12,000 children were abused while they were members. While the estimated net worth of Boy Scouts of America is still high, mounting debt and decreased membership have caused a financial shockwave throughout the organization.
How Much Is Boy Scouts of America Worth?
At the time of their 2020 bankruptcy filing, the Boy Scouts’ worth was estimated to be between $1 billion and $10 billion. At that time, they also disclosed liabilities worth between $100 million and $500 million. As of March 2021, the disgraced organization is proposing a compensation trust fund of at least $300 million fox sex abuse victims.
In the February 2020 bankruptcy filing, BSA reported estimated assets of between $1 billion and $10 billion and liabilities between $100 million and $500 million.
How Much Money Does Boy Scouts of America Make?
In addition to the Boy Scout assets, the Boy Scouts’ revenue is enough money to sustain a large and well-paid organization. In a typical Boy Scouts of America Council, you are likely to find:
- Revenue of $2 million per year
- A paid staff of 17 with an average annual salary of $48,435
- A CEO with a $155,000 annual salary
How Much Does the CEO of Boy Scouts Make?
The current CEO of the Boy Scouts of America is Roger C. Mosby, whose official title is Chief Scout Executive. This position comes with a $1,577,6000 annual salary. This would make Mosby the highest-paid CEO in the Human Services category.
Who Funds the Boy Scouts of America?
There are numerous sources of Income for Boy Scouts of America. A large percentage of the Boy Scouts revenue exists through:
- Private donations
- Corporate sponsorships
- Membership dues
The Boy Scouts of America does not rely on any taxpayer money or public funding. The financial status of the Boy Scouts of America has taken a significant toll in the past 20 years, largely due to ongoing and settled legal problems that have cost millions of dollars in damages and legal fees.
The Boy Scouts and Legal Issues
Many of the sex abuse lawsuits filed against the Boy Scouts of America revolve around organizational negligence surrounding the child sexual abuse cases. Many survivors have already filed and settled claims, with more coming forward.
While not every case results in financial compensation, many claimants are awarded compensation for pain and suffering, reimbursement for medical expenses, and more.
The History of the Boy Scouts of America
The Boy Scouts of America was founded in 1910. Today, the organization has had millions of individuals participating in the many offered programs that aim to enrich youth development. They focus on building character while incorporating wilderness survival skills.
The mission of the Boy Scouts is to instill values into its members. Some of these principles include being loyal, trustworthy, helpful, courteous, kind, and obedient, among others. They strive to achieve their mission through a merit-based system in which participants can earn badges and improve their ranking.
The current Boy Scout programs include the “Cub Scouts” for boys ages six through 10, the “Boy Scouts” and “Varsity Scouts” for slightly older boys up to age 17, and a number of programs available for adults such as the “Sea Scouts” and career-based programs. As of one 2016 report, there were well over two million participants, including both youth and adults.
The Effects of Child Sexual Abuse
Is Boy Scouts worth it? Until the organization takes steps to ensure that the sexual abuse of minors never happens again, it may not be. The Boy Scouts preach good values, and abuse can happen to anyone at any time, but when an organization knows it is occurring and does little to nothing to stop it, they are inviting pedophiles to take advantage of the situation.
How Sexual Abuse Affects Children
According to data from the Centers for Disease Control and Prevention (CDC), one in 13 boys will experience sexual abuse before they turn 18. The CDC says that experiencing sexual abuse as a child can affect a person over their lifetime, and can have physical as well as psychological consequences. Some of the effects of child sexual abuse include:
- Post-traumatic stress disorder
- Sexually transmitted diseases
- Loss of trust
- Substance use and abuse
Sexual abuse can also put a financial strain on a survivor, as they might require years of therapy and other treatments.
How Much Is the Boy Scouts Lawsuit Worth?
The CDC estimates that the total cost of child abuse in the U.S. amounts to $9.3 billion. If you or someone you know were sexually abused in the Boy Scouts, you could be entitled to compensation through a sex abuse lawsuit against the Boy Scouts to help with the costs and hold your sexual abuser accountable.
Some of the costs you might be able to recover include compensation for:
- Medical costs
- Therapy costs
- Pain and suffering
- Past and future lost wages
This is not an exhaustive list of recoverable compensation. For an estimate of what you are entitled to, you might benefit from consulting with a sexual abuse attorney.
Boy Scouts Abuse Should Not Be Tolerated
If you or someone you know was involved with the Boy Scouts of America and may have been the victim of sexual abuse, you could be suffering in many ways. If you are interested in pursuing a boy scout sexual abuse case, a team member at Pintas & Mullins Law Firm.
We are available to help. In some cases, survivors can potentially recover compensation. There is no obligation, but it could be beneficial to understand your options if you have been abused in scouting. Call (800) 614-2067 to learn more.