[Mamzelle]

In light of the Madoff catastrophe, there ought to be more discussion of Vanity Charities. These are charitable remainder trusts that rich narcissists create. They get to deduct from their personal fortunes the principal costs of the foundation, but get to collect on the profits of the investment. All they have to do every year is donate 5% to another non-profit. Maybe Sol's friend Mo's Meddling and General Busybodies for the Interference in Elections Foundation. Maybe Mo even returns the favor to Sol's Promotion of Carbon Credits Charitable Remainder Trust.

Any study today about charitable giving is meaningless without factoring in the cynical vanities of the liberal foundations. The Gates, Buffett--how real are their charities? Any hungrey get fed, any souls ministered to, any sick get healed?

[WOBBLY BOB]

***CA: Union-founded nonprofit spent zero on its charitable purpose in two years (SEIU)***

http://www.latimes.com/news/local/la-me-union13-2008dec13,0,6257988.story?track=rss

A nonprofit organization founded by California’s largest union local reported spending nothing on its charitable purpose — to develop housing for low-income workers — during at least two of the four years it has been operating, federal records show.