bust Posted January 23, 2006 Report Share Posted January 23, 2006 After reading the thread about the beachfront battle going on in Phuket it reminded me of something quite disturbing I came across recently. I am currently doing some research into charitable organizations and came across the financial statements for a rather large charity. The figures I'll give you relate only to the Australian branch. During the Tsunami Appeal here in Australia they raised $102,418,124.00 and to date have spent $29,266,205.00. That leaves over $73 million sitting in their bank accounts earning them probably millions in interest. So imagine the money sitting out there internationally that has still not reached it's intended beneficiaries. All people seem to care about is getting the resorts open for the tourists. Would be nice to see a bit more effort go into those that suffered. :shakehead Link to comment Share on other sites More sharing options...
Weird Posted January 23, 2006 Report Share Posted January 23, 2006 tourist resorts = more money into the economy. (not commenting on the 73 million not yet spent) Link to comment Share on other sites More sharing options...
Coss Posted January 23, 2006 Report Share Posted January 23, 2006 I've always thought that Charities are like any other business, mainly concerned with growth. Cheers Coss Link to comment Share on other sites More sharing options...
longwoodguy74 Posted January 23, 2006 Report Share Posted January 23, 2006 In defense of said unknown entity in australia, it would be hard to spend $102 million responsibly over a short period of time. Link to comment Share on other sites More sharing options...
bust Posted January 23, 2006 Author Report Share Posted January 23, 2006 13 months is not a short period of time when dealing with such a catastrophe. What also needs to be considered is over half the money goes in administration costs etc. Link to comment Share on other sites More sharing options...
rickfarang Posted January 23, 2006 Report Share Posted January 23, 2006 I would imagine that when people gave to those charities, they pictured the funds bringing immediate relief to those who were suffering, rather than having their money sitting in a bank somewhere. Agreed, there would be some difficulties in spending that much money quickly, but isn't that what relief charities are supposed to be able to do well? Link to comment Share on other sites More sharing options...
Guest Posted January 24, 2006 Report Share Posted January 24, 2006 How much was for " administraton" costs? Link to comment Share on other sites More sharing options...
bust Posted January 24, 2006 Author Report Share Posted January 24, 2006 pasathai said:How much was for " administraton" costs? Some organizations have been known to spend up to 90%. There's some major scamming going on out there. They spend more money on accountants and solicitors to cover their arses than they do on the intended recipient. Link to comment Share on other sites More sharing options...
liquidflux Posted January 24, 2006 Report Share Posted January 24, 2006 Suppose they did hand off 90% of the money straight away, how much do you think would make it to the people who need it the most? Not much me thinks. I've heard reports that something like upwards of 50% of the moneys given for tsunami relief have ended up in the pockets of corrupt officials of the various nations involved. Link to comment Share on other sites More sharing options...
sayjann Posted January 24, 2006 Report Share Posted January 24, 2006 the main reason why i never give to Charities........you never really know where the Money goes. being a Phuket Fan i was horrified when the Tsunami happened but resisted the Charities. i was lucky enough to visit Phuket in May/June last Year and i was happier giving Money directly to the locals. at least i knew whenever i handed over 20 Bt it was going to them directly. Link to comment Share on other sites More sharing options...
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