Charities and the Money they collect.

Grumpy Grandpa's first post.  In these times, everyone wants to help others, and everyone is asking for help.  Gifts of $25 spread around a variety of charities, should be helpful.  Are they?  Many are quite worthy, but in my opinion there is a problem, a real problem, with the salaries of the chief executives. 

What follows is data for some of the best known charities--ones whose appeals I get regularly--and their presidents (or CEOs).  The last number on the right is the number of $25 contributions it will take to equal the salaries of the highest paid executives:

                                                                                                                           No. of $25 Donations:
1.  Feeding America.  Revenue:  $2.5 billion       Salary:  Pres., CEO $1.32 million  49,280

 2.  American Red Cross. Revenue: $715 million.  Salary: CEO $715 thousand          28,600

3.  Feed the Children.  Revenue: $361 million    Salary:  CEO $349,000                     13,960

 4.  Save the Children.  Revenue;  $495 million    Salary:  President $487,000             19,480

 5.  CARE.  Revenue:  $403 million                        Salary:  Pres & CEO $427,600       17,104

 6.   Mercy Corps          $308.6 million                    Salary:  CEO $470,000                     18,800


Location: Bethesda, MD, USA

Comments

  1. TobyMay 9, 2020 at 1:12 PM

    1. Consider providing the website where overhead dollars and rates as well as CEO salaries can be looked up.
    2. Recommend a ratio, if appropriate, of CEO salary to annual revenues

    ReplyDelete
  2. brg65May 10, 2020 at 6:40 AM

    What? Had no idea about those CEO salaries. Thanks Grumpy Grandpa (ps-I don't think you are that grumpy)

    ReplyDelete
  3. brg65May 10, 2020 at 7:52 AM

    Very interesting. CEO's and other millionaires are not being held accountable for their social responsibility to help during this time. Like when Jeff Bezos announced he would donate $10 million, but then people did the calculations and found out that's only .08% of his overall fortune.

    Can't wait for more posts :)

    Leah

    ReplyDelete
  4. EvanMay 10, 2020 at 11:18 AM

    To be fair a good CEO is expensive and these charities may not be able to get a good one if they don't offer a high salary. It's possible some of them forego higher pay for-profit jobs or at least the possibility of one to work at the charity.

    I found the top response of this quora to be interesting:
    https://www.quora.com/Why-do-charity-CEOs-make-so-much-money

    ReplyDelete

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