It is my life savings. I am 49 years old. I want few things in return, a matching donation, help to invest the funds at a really high rate of return, and a job working for the charity. I am particularly interested in a small island in the Philippines where there are a HUGE percentage of poor people. REALLY POOR!!!
2006-12-15 13:57:38 · 16 answers · asked by chapellecasitas 1 in Business & Finance ➔ Investing
That sounds like your heart is in the right place. Good for you. At some point later in life, I'd like to go work for the Bill and Melinda Gates Foundation, because they seem to do a lot to help the truly unfortunate people in the world. I don't know a lot that can help, but I'll throw out what I have.
The first thought I have is that I would be worried about the organization I gave it to...what kind of work do they do, are they spending the money making a difference, or on fundraising and huge salaries for administrative staff. You can only do a certain amount of due diligence from the outside. If you plan on working for this sort of agency anyway, why not research an organization who is doing what you want in the Phillipines, and try and get a job with them. If not a job, then a volunteer position. Take 6 months to a year, and see what they do...whether the organization is a good organization worthy of the donation. If you have $1.7 million, you could live off the income on that money while you sort out the best course of action.
It sounds like what you are wanting to start an ongoing foundation...the idea being that you are spending the earnings from the money annually rather than spending principal. As much as $1.7 million sounds like it is a lot, it really isn't. You may get to spend 3-4% of that per year...that's only $50,000 - $70,000 per year. In order to get matching funds for such a donation, you'd need to align yourself with an organization with a large number of donors interested in the Phillipines. Seems to me there are only going to be a few organizations that can pass that test.
As for the help investing funds at a "really high rate of return"...don't know that you'll find any non-profit who can do that...investing isn't their business. Unless you have the ability to earn those returns yourself, I wouldn't count on that.
Good luck with what you are trying to do.
2006-12-15 15:17:21 · answer #1 · answered by Alan 3 · 0⤊ 0⤋
Your thoughts are good however -- a charity would use your money to pay you and your funds would soon be gone THEN WHAT? I recommend Investing in a for profit company that projects High returns with a willingness to contribute to the needy also, as an investor/Director you could insure the needy (POOR) have an on going support source, You would have a job and provide jobs for many unemployed and needy at the same time. You have idealistic wishes yet you must remain realistic or your life savings will not support you to see age 65.
2006-12-16 06:13:01 · answer #2 · answered by canvasman 2 · 0⤊ 0⤋
I am not sure who you should donate the money to but there are many families in need here in the USA that could use an anonymous donation to help them at this time of year. People who struggle every day out there working (like myself) and try to figure out how to pay their monthly bills would feel blessed by a stranger if they would receive money. The one thing I suggest is that if you give to a family give them a lump sum and tell them that a certain percentage must go to another family in need in order for them to receive the money. I know if I were the receiver, I would want to share what someone else blessed me with.
Maybe this will be like the start of a whole new way of people wanting to help others in this day and time when people don't seem to care about others.
2006-12-15 14:05:05 · answer #3 · answered by bellslady65 3 · 0⤊ 0⤋
Yes you can do that, but it you'll STILL be out of pocket for the difference between the donation and the tax savings. If you donated the $10k you'd save about $3,300 in taxes but would still have $6,700 less than you would have had if you had not made the donation. Actually, $250k falls about midway in the 33% bracket so you won't drop a bracket anyway. Spending money to save taxes virtually NEVER pays off. Make the donation for the good that it does, NOT for any tax savings.
2016-05-22 22:29:23 · answer #4 · answered by Anonymous · 0⤊ 0⤋
With that much money, you could divide it up between many charities, and most charities will match the donation.
A lot of people across the world depend on donations like yours, and you should be proud of yourself and feel good that you're doing such a generous thing :)
2006-12-15 14:06:00 · answer #5 · answered by Anonymous :) 5 · 0⤊ 0⤋
So, you want someone to match your donation... that is possible.
You want a job with them... that is possible.
Why to want so many poor people? What do you want them for? And why the Philippines?
2006-12-15 14:01:19 · answer #6 · answered by Sky Salad Clipper 3 · 0⤊ 0⤋
Why don't you donate to people in Indonesia, they are so many people live suffering there,but you must donate the money youself don't give to the goverment or any other institution cos they are very corrupted. I know this because they are my people.
2006-12-15 15:29:00 · answer #7 · answered by rizal_jose69 1 · 0⤊ 0⤋
i think u should invest in buying mosquito nets for the victims of malaria i south africa $10 buys u one net and u could help provide nets for many ppl the money can also go towards AIDS medication for the children in need...
2006-12-15 15:29:53 · answer #8 · answered by Anonymous · 0⤊ 0⤋
Think of someone who has greater ideas, and is not just interested in making more money. Help him get elected to congress. We are in desperate need for better representation! Then we can really start helping the world- not robing or manipulating it. That is very generous of you. Your a good person. Thanks, and good luck!
2006-12-15 14:12:02 · answer #9 · answered by Me 1 · 0⤊ 1⤋
The Museum of the Confederacy in Richmond could use a donation.
http://www.moc.org
2006-12-15 14:01:13 · answer #10 · answered by Anonymous · 0⤊ 2⤋