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justintyme
Joined: 08 Jul 2012
Posts: 8407
Location: Northfield, MN
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 Posted: 06/06/17 11:39 pm ::: How Donald Trump Ripped Off Cancer Kids |
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Follow the money. Donald Trump and son Eric used their charity golf tournament to funnel money intended for kids with cancer to their private businesses. It worked like this:
1. Hold a fundraiser for St. Jude at Trump golf courses. Tell donors 100% of the money will go to the kids, because your family will donate use of the facility.
2. Lie about that. Have the for-profit business charge the charity exorbitant fees for use of the facility—fees that would grow 7x over five years, even as the event stayed the same size.
3. The charity's expenses look out of bounds! Bring them back in line by having a second family-run charity donate just enough to the first charity so that annual expenses look OK in the net.
4. Be sure not to donate any of your own money to the second charity. This way, you're donating other people's money to reimburse the first charity for fees to your own for-profit company. The first charity doesn't have high expenses, because those expenses are offset by charitable donations (from the second charity). The second charity spends all of its money on charitable causes (the first charity) so it looks good too.
5. For those keeping track, this is what's typically called "money laundering". Stack the boards of these charities with employees of your for-profit companies so no one blows the whistle.
6. Redirect money from the first charity, which was supposed to go to St. Jude, into other charities beholden to your family. In gratitude, they agree to hold their own charity events at your family golf course. Rinse and repeat.
Keep draining that swamp.
https://www.forbes.com/sites/danalexander/2017/06/06/how-donald-trump-shifted-kids-cancer-charity-money-into-his-business/#7fc01c356b4a
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scullyfu
Joined: 01 Jan 2006
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Location: Niagara Falls
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tfan
Joined: 31 May 2010
Posts: 9606
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| Posted: 06/07/17 10:04 am ::: Re: How Donald Trump Ripped Off Cancer Kids |
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| justintyme wrote: |
Follow the money. Donald Trump and son Eric used their charity golf tournament to funnel money intended for kids with cancer to their private businesses. It worked like this:
1. Hold a fundraiser for St. Jude at Trump golf courses. Tell donors 100% of the money will go to the kids, because your family will donate use of the facility. |
Wouldn't St. Judes be talking to donors and making this claim? Or, if the Trump's made the claim in some other way, such as putting up signs at the event or for some reason took the lead in talking to donors, St. Judes would have been aware of it - and condoned it - they kept coming back. So it reflects badly on St. Judes, if true.
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GlennMacGrady
Joined: 03 Jan 2005
Posts: 8225
Location: Heisenberg
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| Posted: 06/07/17 11:18 am ::: Re: How Donald Trump Ripped Off Cancer Kids |
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I'm confused about how you're following the money. The article you link says:
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| The real star of the day is Eric Trump, the president's second son and now the co-head of the Trump Organization, who has hosted this event for ten years on behalf of the St. Jude Children's Research Hospital in Memphis. He's done a ton of good: To date, he's directed more than $11 million there, the vast majority of it via this annual golf event. He has also helped raise another $5 million through events with other organizations. |
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| . . . the Eric Trump Foundation has done so much good. . . . in 2015, a new intensive-care unit at St. Jude opened with Eric Trump's name on it, and the foundation's money has funded research into a rare form of cancer. |
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| Last year, the Eric Trump Foundation donated $2.9 million, according to St. Jude. |
No, not every dollar went to St. Jude. The article says, after a board of directors turnover in 2011, the Eric Trump Foundation donated $500,000 to other charities.
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| Until this board turnover, the Eric Trump Foundation pretty much did what it told its donors it would: send its money to St. Jude. But starting in 2011, more than $500,000 was redirected to a variety of other charities, many of which were personal favorites of Trump family members and several of which had nothing to do with children's cancer . . . . |
So, if my math is correct, over 10 years the Eric Trump Foundation donated at least $11 million to St. Jude from the golf tournaments plus another $5 million from other events, donated about 3% of that $16 million total ($500,000) to other legitimate charities, and two years ago in gratitude St. Jude named its new cancer kids intensive care unit after Eric Trump.
How, exactly, do you interpret all this as "Donald Trump Ripp[ing] Off Cancer Kids"? I don't follow your money trail or logic. |
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threadkiller1201
Joined: 19 Sep 2005
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Howee
Joined: 27 Nov 2009
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