There’s a new book out by Ken Stern, entitled “With Charity for All – Why Charities Are Failing and a Better Way to Give.” This book is very enlightening. He runs down the horrible failure of charities in our country. Here’s a few stats:
1,100,000 – number of individual charities, not chapters, registered in the U.S.
$500B – value of direct grants from the government to charities
61 percent chance that a for-profit hospital is profitable
77 percent chance that a not-for-profit hospital is profitable
1.5 percent – fraction of the care provided by a typical non-profit hospital for care for the needy
$1.2M amount of federal government subsidies to the Orange Bowl, a registered charity (2009)
$1.6M amount spent by the Orange Bowl staff annually on entertaining
150,000 – number of people employed by the mutual-fund industry which evaluates companies before investing
Fewer than 100 – number of people employed by charity evaluators which rate charities before you give
Of course, veterans charity scams are highlighted in the book, which is truly sad to us as a 501c3 dedicated to Veterans and their families in their time of medical need.
The book is very informative and as a leader of a non-profit, you should read it! For more info and a great article check out: http://www.publishersweekly.com/978-0-385-53471-0
Have a Happy Friday!!!