No, no, no, the CEO runs the charity free of charge. That allows the charity to pay for their flights to the Caribbean and it rents the CEO’s yacht there (at a discount of course) so the CEO can charitably give a talk about how being poor sucks to potential donors. Of course the charity needs to pay for fuel and food, that’s only fair for the value given by the wonderful presentation given by the CEO.
This of course is all done tax free. After all, we wouldn’t want to bankrupt these valuable charities.
Not a hypothetical… Here’s the Clinton foundation building a luxury hotel in Haiti… You know… For the aid workers or whatever.
That being said some charities really do depend on these initiatives so not all “round up” or “every x% of the dollar goes towards…” is worth ignoring.
It’s less about the company collecting the donations and more the quality of the receiving non-profit.
No, no, no, the CEO runs the charity free of charge. That allows the charity to pay for their flights to the Caribbean and it rents the CEO’s yacht there (at a discount of course) so the CEO can charitably give a talk about how being poor sucks to potential donors. Of course the charity needs to pay for fuel and food, that’s only fair for the value given by the wonderful presentation given by the CEO.
This of course is all done tax free. After all, we wouldn’t want to bankrupt these valuable charities.
Not a hypothetical… Here’s the Clinton foundation building a luxury hotel in Haiti… You know… For the aid workers or whatever.
https://www.cnn.com/2011/11/28/world/americas/haiti-hotel-clinton/index.html
https://www.theguardian.com/world/2019/oct/11/haiti-and-the-failed-promise-of-us-aid
My apologies, I forgot how truly selfless the CEO class is.
And look, their charities are even helping the children! Their own, but think of the children!
https://www.nytimes.com/2024/03/10/us/elon-musk-charity.html#:~:text=Musk’s philanthropy has been haphazard,the largest in the country.
That’s the real rub in many cases.
That being said some charities really do depend on these initiatives so not all “round up” or “every x% of the dollar goes towards…” is worth ignoring.
It’s less about the company collecting the donations and more the quality of the receiving non-profit.