Charity Start-up

My experience working at a charity start-up was that I was used for free labour while hoping to land my first real job in an office. I never did land that job. Looking at the WE scandal makes me reminicent of when my eyes were first opened. I know there's tons of good places out there, but I suspect that we don't want to run our charities like corporations or else they start hoarding real estate and creating non-taxable bank accounts like holding funds, etc. Lame. I wish academics studied corporate structures like this. Not the most fun confession, eh?

6 Comments

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Dont be fooled

Jul 29, 2020 at 12:53pm

Some Charities are Legit but don't be fooled. Others are used as a tool for wealthy to avoid taxes.
Take my uncle for example.
He uses it to hold a portion of his investments, and since its under a charity he doesnt pay any taxes on revenue earned from his investments. It works out to be about 50k im taxes avoided. He uses that money to pay his son a salary for doing nothing.

So taxes that would otherwise go to help society - he gives to his son who is already the heir to millions. Welcome to charities.

26 2Rating: +24

No not fun

Jul 29, 2020 at 3:22pm

But Sadly True.
Charites have become a joke and the needy go on suffering.
How is that helping ?
Some wealthy folks. Only
Sad

11 2Rating: +9

We have ways

Jul 29, 2020 at 9:55pm

Someone will develop a crypto that will funnel money from donors directly to the lowest-5-percent (or 10, or 20) demographic. Net some trivial crypto transaction costs and conversion slippage.
Ethereum is often used for self-executing contracts, for example. But this would likely be a permissioned token, whether by the CRA or IRS, or whatever your local flavor of payment-tracking revenue-enforcement bureaucracy is. Because taxes.
But until you remove the people from the intermediate process, the problems will endure. It's what humans do best - they create problems. Just look around at what's happening now, maybe the best example in a hundred years...

7 3Rating: +4

@Dont be fooled

Jul 30, 2020 at 12:03am

Isn't reporting your uncle an option? F#ck that guy, and his lousy kid. Another lazy Vancouver manchild living of his parents.

12 4Rating: +8

Keep in mind

Aug 1, 2020 at 9:30am

It's not a breech for a non-profit to create a holding fund. I work for a charitable organization with this type of funding. The money is now covering losses incurred by COVID, while other non-profits can't pay the bills at this time. That "non-taxable bank account" is not accessible for anything unrelated to the operation and betterment of the facility and the organization. It's not corporate behaviour, it's good financial management with secure oversight in place. Not everything is corrupt.

3 3Rating: 0

Luna Lake

Aug 2, 2020 at 11:05am

I cannot understand how many organisations run almost exclusively with volonteers. It takes away legitimate jobs from the unemployed. The fact that we cannot get to full employment shows there is something seriously wrong with society.

2 2Rating: 0

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