5 ms·
Do they just raise funds but not disburse effectively?
by hkmurakami 9y ago
Do they just raise funds but not disburse effectively?
- jarsin 9y agoNo they use the charities as a way to do business deals. Want the deal with the billionaires company...better give to his kid's charity etc.
- jessaustin 9y agoIt seems common for "personal" charities to have really high overhead. A typical cause would be that highly paid executives are actually family members with little commitment to the stated purposes of the charities.
- candiodari 9y agoOr they deliver services directly to those executives. Particularly egregious example: https://nypost.com/2016/10/02/bill-clintons-executive-suite-is-a-private-pad-above-165m-library/ https://nypost.com/2016/10/02/bill-clintons-executive-suite-... (the story goes that back when executive compensation was highly taxed in the first part of the 20th century, many companies took out services for their executives which were tax free advantages. Things like yachts. Walt Disney is famous for building out a business for exactly that sort of thing : https://en.wikipedia.org/wiki/Club_33 https://en.wikipedia.org/wiki/Club_33 )
- zimpenfish 9y agoNot that egregious considering > Clinton isn’t the only former president to include a residence in his library. George H.W. Bush’s library at Texas A&M University in College Station and Jimmy Carter’s in Atlanta both have them.
- brokenmachine 9y agoI think it's also a way to dodge taxes.
- hkmurakami 9y agoImo dodging taxes is okay _if_ those funds are genuinely put to good use. (I can also see how an added incentive is redundant for the ultra wealthy) but I think the claim here is that the donors are being more duplicitous than that.