5 ms·
A career ago I spent a good chunk of my time going over the financials of non-profits large and small. It's an entire industry passing grants back and forth, sk
by ahi 7y ago
A career ago I spent a good chunk of my time going over the financials of non-profits large and small. It's an entire industry passing grants back and forth, skimming a percentage each time. United Ways are typically run by a board of trustees consisting of the local elite; lawyers, accountants, small business owners. The UW sends money to other local non-profits who spend it on services and rent from those same lawyers, accountants, and small business owners while employing their failsons. Thousands of donations go in, and at the end someone gets a bag of dented cans of cream of mushroom soup.
- nmca 7y agoNot all charities are like this; the against malaria foundation for example seems very cost effective
- ahi 7y agoAMF is a UK charity so I'm not sure I'm reading their financial page correctly: https://www.againstmalaria.com/FinancialInformation.aspx https://www.againstmalaria.com/FinancialInformation.aspx Looks like they're using half their revenues to build up a bank account. To smooth out their net purchases? For the most part, I like their model. They turn thousands of small donations directly into nets without a bunch of middle men.
- DonHopkins 7y agoBy their "failsons" do you mean their "ericsanddonaldjrs"? https://www.thedailybeast.com/what-is-failson-culture-look-no-further-than-the-family-trump-for-the-answer https://www.thedailybeast.com/what-is-failson-culture-look-n...