I am almost done with my 30 posts. Technically speaking this post should be the last one but I am going to go on until the end of the month just to lock it. Especially given that I have already given away 1/4 of my promised funds.
In the interim, I have been doing some research in order to figure out where to donate the remaining amount and some of the information I have found has left me astounded.
By doing simple research online one can learn quite a bit about charitable organizations. What astounded me was the financial disclosures made by some of these organizations. Here is an example, a small local charity that has approximately $5M in contributions paid its executive director $140K a year. That is a 3 percent expense right off the top. Does that seem high to you too? Their overall rating is one out of four stars, not surprising.
While I thought the above example was bad, I found another Seattle charity with annual revenues of $1.7M that paid its executive director $105K. That is almost 6 percent and here is the kicker this charity had a $130K deficit at the end of the year! I am blown away.
Please don’t get me wrong, I think these folks should be compensated for the work they do but I think if the organization is running a deficit and the director is being paid 6 figures there may be something wrong.
But then I found that organizations like the above two were in the minority and there is a large pool of great charities out there. So I am still deciding and I will most likely stick to local charities given that we have limited funds and I think our donations would make the biggest impact with small charities.
And, my friends have thrown down the gauntlet once again. I have been told if I can do a blog entry everyday for another 11 months they will multiply their pledge by five and then find corporate donors that will match their donation. While I would love to do this I doubt I have the stamina. Can you imagine, a readable, somewhat interesting new entry every day for another 11 months. My head hurts just thinking about it.
Well, rain is back in Seattle. But we had a great summer so I am not complaining. Plus rain makes Deb happy and a happy Deb is a good thing.
Hope to you see here tomorrow.