When giving your money away to charity, it’s important to know where exactly the funding is going. A new investigation from CNN, the Tampa Bay Times and the Center for Investigative Reporting has come up with the 50 worst charities, in terms of how donated money is spent.
At the top of the list is Kids Wish Network. The organization grants wishes for children with life-threatening medical conditions. According to the investigation though, Kids Wish Network spends less than three cents on the dollar annually on dying children and their families.
Instead, most of the millions of dollars they collect every year go to the operators of the charity and the companies that are hired to get donations. According to the latest 10 years of tax filings, $127.9 million had been raised by the group, with $109.8 million being paid to solicitors and $18.1 million to the charity itself.
The American Breast Cancer Foundation ranks as the fourth worst charity in America. The group is focused on breast cancer prevention, however their tax filings tell a different story. After raising $80.8 million over the last ten years, $59.8 million went to corporate fundraisers, $21 million to the charity, with $4.2 million spent on aid. After negative publicity, the charity’s founder was forced to resign in 2010.
The list of the top 50 worst charities, along with how they spend their money, can be found at the Tampa Bay Times website.