You still need to create the nitrogen in the first place.

But you can read the financial statements yourself: http://www.alcor.org/Library/html/financial.html (Seriously, am I the only person here who can look things up? The answers are on, like, page 10.)

I should mention that I define 'running at a loss' as not being able to pay all bills out of either investment income or out of fees (membership dues, freezing fees, etc.); if there is a gap between expenses and the former, then they are running at a loss and depending on the charity of others to make it up.

And this is the case. In 2008, they spent $1.7 million - but they got 622k for freezing, and ~300k in fees & income, for a total of $990,999. In other words, Alcor is not currently self-sustaining.

(Why aren't they bankrupt? Because of $1,357,239 in 'contributions, gifts, and grants', and 'noncash contributions' of $753,979.)