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>> You don't get it back. Yes, you can get it back. All the donor has to do is find a recipient who agrees to buy goods or services from his/her company for ab
by petilon 8y ago
>> You don't get it back.
Yes, you can get it back. All the donor has to do is find a recipient who agrees to buy goods or services from his/her company for above-market prices, in exchange for receiving the donation. It's called a quid-pro-quo arrangement.
- TomMarius 8y agoIs that common with IRS-approved charities?
- Pica_soO 8y agoHow about the donor opening one - the St.Facebook Orphan school for ants who must justify the means.
- petilon 8y agoThe charity in this case is Silicon Valley Community Foundation. They may not be aware of any secret deals made between the donor and the recipient. The charity just gives money to whoever the donor directs them to give to. The fact that the donor directed the donation is hidden from public, which allows this kind of abuse to occur.
- NelsonMinar 8y agoThat is explicitly illegal. Not saying it doesn't happen (particularly with education) but it's illegal. FWIW, the Schwab DAF has a checkbox I'm required to check every single grant promising there is no quid pro quo. I suppose people lie on that.