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Posts tagged ‘ALSAC’

4
Feb

Space X, Elon Musk, Jared Isaacman and St Jude: The Questions No One is Asking

Jared Isaacman, a 37-year old billionaire who made his fortune as a co-founder of a payment processing company called Shift4 Payments, announced he is spearheading a $200 million dollar fundraising campaign for St. Jude by leading a crew of 4 private citizens in a SpaceX rocket (of Elon Musk fame) that will fly into orbit around the earth. Mr. Isaacman is personally donating $100 million to St Jude with the conviction we should conquer childhood cancer.

I don’t know anyone who doesn’t want to conquer childhood cancer. There is little else that will push adults into action than seeing a child suffer from a serious illness.  But, Mr. Isaacman and everyone else may want to ask some serious questions about St. Jude, research, and how revenue is spent before embarking on fundraising for an organization that has increased its net assets from $2.5 billion in 2012 to $5.4 billion in 2019; primarily by saving a large portion of revenue annually (as opposed to spending more on research and helping sick kids and their families). Read more »

20
Dec

Where Does $100 to St. Jude’s Go (2019)?

St. Jude’s is one of the most popular non-profit organizations in the country because the charity’s mission appeals to donors:  they treat and help children with cancer and other life threatening illnesses. But, before making donations, donors should understand where revenue is spent and that St. Jude’s is actually two organizations:

  • St. Jude Children’s Research Hospital, Inc. (St. Jude)
  • American Lebanese Syrian Associated Charities  (ALSAC)

ALSAC  “exists for the sole purpose of raising funds and building awareness to support the current and future needs of St. Jude Children’s Research Hospital, Inc” while St. Jude engages in research and provides care and services to sick children and their families. St. Jude has a beneficial interest in the assets of ALSAC but the organizations are separate non-profit 501 (c)(3) entities with specific functions: ALSAC raises funds while St. Jude does the research and provides the treatment. Read more »

4
Oct

Where Does $100 to St. Jude’s Go (2018)?

St. Jude’s is one of the most popular non-profit organizations in the country because the charity’s mission appeals to donors:  they treat and help children with cancer and other life threatening illnesses. But, before making donations, donors should understand where revenue is spent and that St. Jude’s is actually two organizations:

  • St. Jude Children’s Research Hospital, Inc. (St. Jude)
  • American Lebanese Syrian Associated Charities  (ALSAC)

ALSAC  “exists for the sole purpose of raising funds and building awareness to support the current and future needs of St. Jude Children’s Research Hospital, Inc” while St. Jude engages in research and provides care and services to sick children and their families. St. Jude has a beneficial interest in the assets of ALSAC but the organizations are separate non-profit 501 (c)(3) entities with specific functions: ALSAC raises funds while St. Jude does the research and provides the treatment. Read more »

8
Feb

Executive Salaries at St. Jude’s (2017)

When some people think of St. Jude’s, they associate the organization with the children’s research hospital but St Jude’s is actually two organizations:  the children’s hospital (St. Jude Children’s Research Hospital) which provides research and medical care, and the fundraising organization (ALSAC which stands for American Lebanese Syrian Associated Charities). Although most non-profits do not separate fundraising from services, St. Jude’s does so both organizations need to be analyzed when looking at “St. Jude’s.Read more »

5
Apr

Top Ten Financial Tips to Know About St. Jude’s

St. Jude’s is one of the most popular non-profit organizations in the country because the charity’s mission appeals to donors:  they treat and help children with cancer and other life threatening illnesses. But, before making donations, donors should understand that St. Jude’s is actually two organizations:

  • St. Jude Children’s Research Hospital, Inc. (Hospital)
  • ALSAC – St. Jude Children’s Research Hospital, Inc. (ALSAC)

ALSAC stands for the American Lebanese Syrian Associated Charities and “exists for the sole purpose of raising funds and building awareness to support the current and future needs of St. Jude Children’s Research Hospital, Inc” while the Hospital treats and helps the children along with their families. The Hospital has a beneficial interest in the assets of ALSAC but the organizations are separate non-profit 501 (c)(3) entities with specific functions: ALSAC raises funds while the Hospital provides the treatment.

Over the past 6 years, ALSAC reported the following information (in millions) on the IRS Forms 990 (2011-2016): Read more »

10
Apr

$19 a Month to St. Jude’s: How Much Goes to the Kids

St. Jude’s runs advertisements asking donors to make a monthly gift of $19 and become a “partner in hope.” $19 sounds manageable so who wouldn’t want to give a little less than twenty bucks a month to help a sick child with cancer or other life threatening disease? Judging by the tax returns submitted by St. Jude’s, a lot of people make this donation every single month. Have you ever wondered how much of that $19 is actually spent on a sick child and his or her family?

Based on the IRS Form 990’s submitted for the year ending June 30, 2015, the answer is $8.17 per month: Read more »

12
Feb

Where does $100 to St. Jude’s Go?

St. Jude’s is one of the most popular non-profit organizations in the country because the charity’s mission appeals to donors:  they treat and help children with cancer and other life threatening illnesses. But, before making donations, donors should understand that St. Jude’s is actually two organizations:

  • St. Jude Children’s Research Hospital, Inc. (Hospital)
  • ALSAC – St. Jude Children’s Research Hospital, Inc. (ALSAC)

Read more

29
Jan

Executive Salaries at St. Jude’s

When people think of St. Jude’s, they often think of a children’s hospital but St. Jude’s is actually two organizations:

  • ALSAC – St. Jude Children’s Research Hospital, Inc. (ALSAC)
  • St. Jude Children’s Research Hospital, Inc. (Hospital)

ALSAC stands for the American Lebanese Syrian Associated Charities and “exists for the sole purpose of raising funds and building awareness to support the current and future needs of St. Jude Children’s Research Hospital, Inc.” However, ALSAC only gives 50 cents of every dollar raised to the Hospital (based on the IRS Form 990’s). The other 50 cents is spent on supporting the fundraising organization – (about 29 cents of every dollar) while the remainder (21 cents of every dollar) is placed in the ALSAC fund balance which totaled more than $3.4 billion (net), concentrated in cash and securities as of June 30, 2015. Read more »

19
Dec

6 Ways to Make Your Donations Go Further

Tis the season for giving. We receive mail and on-line requests, buy tickets for charitable events, and get solicited at work, the grocery store, drug store, the mall, and a zillion other places. Many charities do really good work in our communities but many also have very high administrative and fundraising expenses along with high executive salaries which means our donations don’t go as far as we want them to go.  To make your charitable dollars go further, consider the following six recommendations: Read more »

3
Dec

Charity Checkout Contributions

In the United States, nearly every retail organization asks if you would like to make a charitable contribution to a good cause at the check out counter. Retailers love it because it makes them look caring (even if it’s on the back of customers) and often gives a tax write-off while charities love it because a lot of money is raised with very little cost (some companies do take a percentage as an administrative fee) while most customers dread it because they feel trapped and shamed into giving and this happens over and over every single day. Read more »