I've told you a thousand times...
we know about non-profits now, don't we...they are tax-exempt which allows huge amounts of cash to build in the coffers..
the Santa Barbara Foundation just doled out some crumbs to other non-profits in the area and got some press from non-profit friendly media..
Net Assets: The difference between a charity's assets and its liabilities. Although charities do not exist to make money, they do work to build and maintain reasonable reserves of net assets. Growing its net assets helps a charity outpace inflation and sustain future program activities. the Santa Barbara Foundation has $183,000,000 in net assets!
but non-profits are some of the biggest scams going..and they make people very rich..so be vigilant when they come a-begging because the CEOs may be looking to add another room to their gated mansion on the hill..
here's some bad ones:
Angel Food Ministries Angel Food Ministries delivers groceries and financial support to those in need through a national network of churches. However, Gary Snyder, author of Nonprofits: On the Brink, notes that the charity "may be fulfilling its mission by delivering food, but it is not delivering on credibility." Last year, the FBI and IRS raided the Ministries’ headquarters in Georgia. Angel Food Ministries is lead by the Wingo family, including CEO Wesley Joseph Wingo, his wife Linda, and their sons, Andrew and Jonathan Wesley. Over the fiscal years 2006 to 2007, the family received $2.5 million in total compensation. In addition to this, the family received a combined $1.098 million in loans from the organization as of 2007.
Cancer Fund of America According to the Cancer Fund of America, its mission is "To provide support and services to financially indigent patients; to disseminate information concerning the early detection and prevention of cancer; to provide commodities, and gifts-in-kind to hospices and other health care providers; to procure and distribute donated merchandise to various 501-(c)-(3) nonprofit community service organizations which aid the ill, needy, and infants." The non-profit, however, only spends 17% of its budget on program services. Furthermore, it was accused by the Georgia Governor’s Office of Consumer Affairs for making false and misleading claims in its mail solicitations. Cancer Fund also employs two sons of founder James Reynolds Sr. and a son-in law.
Operation Lookout National Center for Missing YouthOperation Lookout National Center for Missing Youth is an "international child-search assistance center." The organization reportedly spends a massive 82.9% of its budget on fundraising expenses, however, proving itself to be highly inefficient. A reason for its ineffectiveness is its reliance on expensive outside telemarketers to procure donations.
American Veterans Coalition American Veterans Coalition, which is run by Robert Friend and his wife Shao Mei Wang, describes itself as being "dedicated to assisting the brave men and women who have done so much for their country." Records show, however, that of the $1,579,521 the organization raised in 2007, only 21% went to program services, and of that less than 1% went directly to veterans and their families. Additionally, officials in both Arkansas and Kentucky have claimed that the organization violated the Consumer Protection Act by misleading donors about how their donations would be spent.
Children’s Wish Foundation International Children’s Wish Foundation International, which has as its top two executives husband and wife Arthur J. Stein and Linda Dozoretz, was established to grant wishes to children with life-threatening illnesses. According to Charity Navigator, however, only 46.4% of the charity’s revenue goes to program expenses. In comparison, 43.3% goes to fundraising expenses. It received zero stars from the group and an "F" from AIP.
Kids Wish Network Kids Wish Network was established in 1997 to grant wishes for children with life-threatening conditions. Since then, the organization has faced a high level of criticism for a number of reasons. The most prominent critique is that Kids Wish Network is inefficient, relying too much money on fundraisers while providing too little to their cause. Charity Navigator reports that only 48.5% of the charity’s revenue goes to program expenses. This is because of their their telemarketing costs. The charity is lead by Mark and Shelley Breiner, along with in-law Barbara Askin. AIP gives the group an "F."
National Association of Chiefs of Police The National Association of Chiefs of Police is a not-for-profit organization which provides "educational and charitable activities forlaw enforcement officers." According to the American Institute of Philanthropy, Donna M. Shepherd is Chief Executive Officer and her two sons Barry and Brent and former daughter-in-law Jamie, all have top positions. The organization also spends 12.3% of its revenue on administrative expenses, underscoring concerns about the family’s involvement. Additionally, there are a number of employees at the charity who are also related, although outside of the Shepherd clan. It was graded "F" by AIP.
Veterans Fund The Veterans Fund describes itself as supporting "programs that assist thousands of … veterans with mental, physical, and emotionalrecovery, and that give them hope and encouragement." The charity, which is run by Hugh Brooks and his wife Katie Clayton, however, has received an "F" rating from the American Institute of Philanthropy. The organization spends just over half of its revenue on program expenses, assigning the rest to administrative expenses (17.2%) and fundraising expenses (31.5%). After accounting for funds spend on educational messages, the amount actually spent on veteran program services is even less.
Arthritis Trust of America The Arthritis Trust of America works to inform people how to fight disease and funds research. The charity, however, is extremely inefficient. It is lead by Executive Director Perry Chapdelaine and a relative, Lucelyn Chapdelaine. Randolph Chapdelaine on its website as president. Under their control, however, the organization has received a zero-star rating from Charity Navigator, which notes that the group spends under half of their revenue on program expenses, while dividing the remaining funds on administrative and fundraising expenses. It also was rated "F" by AIP.
–Jonathan Berr, Charles Stockdale