The Tampa Bay Times has been running a series which identified 50 of the worst charities and their boiler room solicitation tactics which has funneled almost $1 billion from the public under the ruse of helping the needy and sick.
From the TB Times:
ABOUT THIS SPECIAL REPORT
Across the nation, hundreds of charities take your donations in the name of cancer patients, dying children and homeless veterans. But the real beneficiaries are the charity founders themselves and the for-profit companies they pay to run boiler rooms that dial for dollars. To tell the stories of America’s worst charities, reporters reviewed thousands of charities and charted their finances going back a decade. These charities use deception, and in some cases outright lies, to persuade donors to give. Then they spend as much as 90 cents of every dollar raised to generate more donations. Regulators have proven powerless to stop the cycle of waste and deceit.
See which charities are in the top 50 worst here.
Read the brilliant work by the Tampa Bay Times and the non profit Center for Investigative Reporting in its entirety here.
In the wise words of a good friend of mine: "It is wiser to donate your time to a charitable cause, not your dollars."
Until Next Time,
ct
Craig Turley is a mortgage and finance consultant. He has over 19 years professional business, finance, and management experience as an entrepreneur and corporate executive. Craig is a 1993 graduate of the University of Arizona with a degree in Business Administration, emphasis finance.
