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Thanks a lot for the detailed answer! And great job taking care of your second grandfather! One thought of yours regarding charities in general that I find par

by 1-12-2022-hn 4y ago

Thanks a lot for the detailed answer! And great job taking care of your second grandfather! One thought of yours regarding charities in general that I find particularily interesting is: > you've done your research and you know at least 80% plus of your dollar is going to the actual cause I'm wondering what would be the effect of organizations guaranteeing (suppose they could guarantee) that 92% of your dollar is going directly to the cause and 8% is going for administration costs, and stating that upfront? Would that give you more confidence instead of them saying "_all proceeds_ go to..." when you know they have employees and admin costs?

mattbgates 4y ago
You want the majority of your funds to go to the cause rather than charity. It'd be great if we did live in a world where all of it could go towards paying for just the cause, but there can be a lot of overhead to make things happen, especially for hospital or bigger charities. I mean, I'd think that donating to an organization where 30 cents of my dollar is going towards the cause and 50 cents is going towards the admin/employee costs. Take one of the biggest charity stores in the United States, Goodwill. Many people take their things there, drop them off, and they have a bunch of workers in the back getting paid to bring all that stuff in, make sure it works, clean it, price it, and put it back on the shelves, and sell it, for someone else to buy. This is basically "community charity" where a portion of your dollar is going towards paying those workers, the overhead of the administration, and the locations themselves. CEO salary is about $500,000 to $1,000,000 per year. Is that necessarily a bad thing? Are people unhappy with the direction of the store? Sometimes I think this store has overpriced items for something that was donated to someone else, but who am I to judge? I didn't buy the location, keep the store open, waiting for people to drop off their things, and resell it. So in essence, it may not be a bad thing at all if only 50 cents of my dollar goes towards "charity".

mattbgates 4y ago

You want the majority of your funds to go to the cause rather than charity. It'd be great if we did live in a world where all of it could go towards paying for just the cause, but there can be a lot of overhead to make things happen, especially for hospital or bigger charities. I mean, I'd think that donating to an organization where 30 cents of my dollar is going towards the cause and 50 cents is going towards the admin/employee costs. Take one of the biggest charity stores in the United States, Goodwill. Many people take their things there, drop them off, and they have a bunch of workers in the back getting paid to bring all that stuff in, make sure it works, clean it, price it, and put it back on the shelves, and sell it, for someone else to buy. This is basically "community charity" where a portion of your dollar is going towards paying those workers, the overhead of the administration, and the locations themselves. CEO salary is about $500,000 to $1,000,000 per year. Is that necessarily a bad thing? Are people unhappy with the direction of the store? Sometimes I think this store has overpriced items for something that was donated to someone else, but who am I to judge? I didn't buy the location, keep the store open, waiting for people to drop off their things, and resell it. So in essence, it may not be a bad thing at all if only 50 cents of my dollar goes towards "charity".