years ago I had a friend who owned a few buildings, every year he would buy 1000 of t-shirts in bulk at like 1$ then donate them to charity and then write it off on his taxes as 20$ a shirt
@@bartek6082 he used to also take all the cash sales at the bar then ring it up on his own credit cards for the air miles and would fly around the world for free 3 times a year
In the UK a lot of corporations will make a big charity donation at the end of the financial year. Only for tax avoidance. You can claim tax relief by deducting the value of your donations from your total business profits before you pay tax. The Cup Trust is enormous in charity terms. It was the 14th largest charity by income in 2011, collecting £97 million. And in two years it allocated just £135,000 of that to good causes whilst seeking to reclaim £46 million in gift aid for donors. The vast majority - about 99.98% of its income in 2011- was used to pay for fund raising costs
Warning anybody who's actually thinking of doing this the IRS will be so far up your ass. First off the IRS won't even give you 501 C3 status if you have complete control over who the directors and executives of your charity are. You're asking for problems if you're actually planning on going ahead with this instead try opening a subsidiary with the charity being the parent company have the subsidiary be partially owned by the parent then you can actually make genuine income
This works even better when you have links to certain political parties who need to launder money. The amount of making of money goes up in relationship to the amount that can be laundered through for said party and it's affiliates. The other party launders it's money through corporations and investment "opportunities".
i am 17 years old have a non profit i started when i was 7. in all of the ten years me or my mom have not used a single penny for anything other than the cause.
WWF ceo now makes like 700k a year, but in the pre financial crash world i remember charity ceos earning upwards if 4mill and the givernments often gave them tax cuts because its charity
I know someone who had worked as CFOs for several different charities over the years, and he pretty much said the same thing. He even helped his kids setup a charity for some after school program for disadvantaged kids and put one of them as the CEO.
Why is it I'm only being recommended these videos just now?!? Subbed. Also I might start a charity that breeds pigeons... For some reason I've yet to make up
I've always have this strategy in mind, but i'm just a person with no morality that's bad in convincing people. And i'm too broke to hire an ambassador to do the talking for me.
So it’s essentially a business where everyone else pays you to provide a service for those who can’t pay for it themselves? Under the guise that you’re doing it out of goodwill
I love how they defend it too- "we would be making 4 million instead of 1 million a year if we worked in the private sector" it''s time they put a pay cap on charity CEOs
Can you make two similar charities, and when you get the profits from each, put them back in the other one so you get more money going towards you instead of the cause. Also for tax benefits
Not sure if that is how it's supposed to be, but I don't seem to be getting notifications for "Shorts" videos the way I get them for normal videos. Just letting you know in case that's not how it should be.
I appreciate that! That’s how I intended it to be. Only want the subscribers to get notified for the full videos, but if this pops up in your feed, then awesome! 😀
I worked for a non profit last year, soon realized they are a political ideology. I quit and joined another one ,only to realize this is even worse micro managed, unbearable work culture. I am definitely getting negative references from both these morally superior parties because I cannot suck up their stupid work policies.
I have been trying to this so i can start my counselling business and improve mental health in the community but struggling. Have you got an email pleaese??
Ironically not how it works where I'm from. You cannot be a founder of a charity and it's ceo. And the charity is governed by a board of directors who cannot be benefiting from the charity. If you do its fraud and that's some federal level shit you can get in trouble for. Now what you can do is be a business and collect donations and claim those donations on your taxes. That's A okay. Basically get your customers to pay your taxes.
It is absolutely legal. People will pretend to give money to kids for college for example and then pocket the money calling it administrative costs. People are big time scammers.
You are running a charity not a business, there is no reason for a massive salary to a ceo or some director who don't even do any ground work. They are just expensive middle management enjoying their luxury "headquarters" and lifestyle without any regard for core cause.
Thank you for the video. I am trying to open a charity but not sure what a governing document or trustees are. Do you have a an email I contact you on please ? Thanks
