As the old Business 101 saying goes, “You have to spend money to make money.” To attract contributions, charities have to shell out for fundraising events, physical infrastructure and marketing materials.

1. SIX CHARITIES WITH
QUESTIONABLE SPENDING
HABITS
0
by Michael Evans • Science & education
As the old Business 101 saying goes, “You have to spend money to
make money.” To attract contributions, charities have to shell out
for fundraising events, physical infrastructure and marketing
materials. They
also have to
provide a living
wage to their
core staffers and
sometimes very
high levels of
compensation
for their
executives.
Some celebrity-
associated
charities,
though, break
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2. implicit or explicit promises about what they’ll do with the funds
they raise. To borrow another turn of phrase from the business
world, these organizations have all struggled to create value for
their donors.
1. Alex Rodriguez’s A-Rod Family Foundation
A-Rod’s foundation only existed for a little over a year and didn’t
attract seven-figure donations, but it did manage to squander what
resources it had. According to a detailed IRS audit, the
organization took in more than $400,000 during the 2006 fiscal
year while paying out just over $5,000 in direct aid. In fact, it made
just one sizable aid payment before closing its doors: a $5,000
donation to a charity affiliated with Shawn “Jay-Z” Carter.
2. Sting’s Rainforest Foundation
Sting’s foundation provides aid and infrastructure support to a
number of indigenous groups in Central and South America. It
spends nearly 75 percent of its money, however, on fundraising,
overhead and nebulous “other expenses.” In fairness, it does
provide non-monetary support like building supplies and clean
water, and many of its off-the-grid clients have little use for cash
aid. All the same, it has a low rating from Charity Navigator.
3. The Larry King Cardiac Foundation
Like Sting’s foundation, Larry King’s Cardiac Foundation seems to
spend a great deal on fundraising activities and perks for its
employees. It sets aside an unusually high proportion of its
revenues—22 percent—to pay its staff members and recently
reported a $200,000 annual stipend for its director. This figure
wouldn’t be noteworthy if said director didn’t also happen to be
Larry King’s son.
4. Bono’s ONE Foundation
Few would say that Bono has squandered his celebrity on trivial
matters. Over the years, he has been a leading advocate for people
who live in the world’s most troubled regions. Nevertheless, his
ONE Foundation blurs the line between advocacy and self-
promotion. Since it’s not technically registered as a charity, ONE
isn’t required to make rigorous financial disclosures or provide
direct-aid grants. A look at its expense reports is revealing:
According to a Fox News report, ONE spent 55 percent of its
revenues on salaries and most of the rest on promotional activities
like free concerts.
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5. Brad Pitt’s Make It Right Foundation
Like Bono, Brad Pitt and Angelia Jolie have used their public
profiles to draw the public’s attention to legitimate global crises.
On paper, the Make It Right Foundation fits this mold: The
charity’s stated goal is to help Habitat for Humanity and other
organizations build permanent homes for New Orleans residents
who were affected by Hurricane Katrina. With $7.2 million in 2010
revenues and just $266,000 in paid grants, some have questioned
its efficiency. Make It Right also pays about 40 percent of its
revenues to its employees.
6. The Dr. Phil Foundation
Nothing lasts forever, including celebrity-associated charities. The
Dr. Phil Foundation appears to be paying out far more money than
it takes in, and it’s unclear how much longer the charity can sustain
its fiscal path. A closer look at the foundation’s finances reveals a
major “founding donation” from Dr. Phil’s family way back in
2004. Since then, the organization appears to have been coasting
on the strength of this endowment and allowing fundraising to take
a back seat to administrative activities. To its credit, the Dr. Phil
Foundation spends the vast majority of its public donations on
charitable programs.
Michael Evans – has written 78 posts on this
site.
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