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Posts tagged ‘St Jude’

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 »

18
Aug

Where Does $100 to United Way Go (2018)?

 

United Way is one of the most recognizable charitable organizations in the United States and throughout the world.  In the United States, “United Way” generally refers to United Way Worldwide (formerly United Way of America) and/or one of the 1,800 local offices in 40 countries and territories that operate as separate 501 (c) (3)’s. United Way Worldwide is the leadership and support organization for the whole United Way network. Each organization collects funds and makes grants to local organizations, and also contributes a portion of the revenue collected to United Way Worldwide to support operations. 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 »