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Strategies & Market Trends : 2026 TeoTwawKi ... 2032 Darkest Interregnum
GLD 451.89+1.9%Jan 22 4:00 PM EST
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To: ggersh who wrote (112611)7/10/2015 3:01:32 PM
From: Elroy Jetson3 Recommendations

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ggersh
Pogeu Mahone

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The entire fundraising world is filled with what most would call fraud in other contexts. Groups who shell out appearance fees for big names take a big risk. They're on the hook for the fee even if the event loses money.

Many of these charities who have high profiles, have a high profile because less than 1/3 of the money donated goes to their intended cause. They become self-perpetuating scams to feed their "professional board members."

That's why Joan Irvine and her Mom got Congress to pass a law requiring trusts to hand out 3% to 5% of their assets each year. They were beneficiaries of the trust which owned much of Irvine California and the Board Members were earning more than they were. After the law passed the trust sold the Irvine Company and the Hughes Trust decided to sell their businesses. It was crooked.

When I ran a non-profit with two other people we never had a fundraiser. We simply arranged for potential donors to meet researchers or social program people who needed funding for their current or next project. If the donors needed dinner or entertainment to write a check, they were the wrong donors. If they donated, after their check cleared we passed on 100% of the donation to the intended recipient. Charity should be a labor of love, not a promising career.
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