Charity Industry Often Overlooked

There are big bucks in the Charity Industry. It doesn't receive the attention it deserves.

To prove how profitable the Charity Industry can be you need to look at Bill Clinton's income tax return, recently revealed.

Clinton got $450,000 for a speaking engagement for a charity in London. Fund-raising costs consumed more than half of the proceeds of the event for the charity. Clinton also received $280,000 for a speech for a for-profit the same day and another $280,000 for a talk the next day in Dublin.

That's more than $1 million in two days.

Andy Zajac, a Cleveland native and former Beacon Journal reporter now working the Washington Bureau of the Chicago Tribune wrote the article detailing the speaking fees.

His full article is available at:

http://www.chicagotribune.com/news/nationworld/chi-clinton-speechapr08,1,7724523.story [1]

Zajac quoted a charity leader saying, "We were a charity but he wouldn't come without that, so we paid it."  "If we had been charged less, we could have given more," to the charity.

Similarly, charities here have events that cost more than the money raised. The Cleveland Indians and Cleveland Browns are in this category and reap the reward of being seen as charitable when most of the money goes to getting publicity for the team franchises.

Those interested in the issue of charities can find some interesting facts about numerous charities, including local ones, in a book, "Charity USA" by Carl Bakal.