When Charity is your Business…
Posted by andreasw on Dec 22, 2010 at 12:31 am
According to an article in the Boston Business Journal professional fundraisers last year pocketed 57 cents of every dollar donated to charities across the state last year: Pros pocket lion’s share of charity money according to a survey based on the findings of about 600 campaigns. MA attorney general Martha Coakley’s report states that charities received just 43 percent of the money raised in their names during 2009, and the balance went to pay salaries, rent and other expenses
For charities that focus on humanitarian aid, this is a scandal. for charities that focus on economic development, this is a waste of money – if that money were invested directly into companies in their target areas, the effect on the local community would be at 100%, AND there would be a return on investment.