1 00:00:01,120 --> 00:00:04,280 Speaker 1: Welcome to you stuff you should know from house stuff 2 00:00:04,280 --> 00:00:12,280 Speaker 1: works dot com. Hey, buddy, if you don't mind if 3 00:00:12,320 --> 00:00:14,840 Speaker 1: I plug my November page real quick, please do. I 4 00:00:14,880 --> 00:00:19,120 Speaker 1: am growing a mustache this month for November for uh 5 00:00:19,440 --> 00:00:25,600 Speaker 1: for cancer research, specifically male prostate cancer research. That's right. 6 00:00:26,120 --> 00:00:29,000 Speaker 1: And you can donate to my team, which would be 7 00:00:29,000 --> 00:00:31,680 Speaker 1: pretty cool because you know, you get a free podcast 8 00:00:31,720 --> 00:00:34,120 Speaker 1: and it'd be nice to grow a little money towards 9 00:00:34,159 --> 00:00:38,040 Speaker 1: cancer research in the name of nice here, give him 10 00:00:38,080 --> 00:00:41,360 Speaker 1: some money. He's growing on facial here to help a 11 00:00:41,440 --> 00:00:46,639 Speaker 1: charitable organization engage in really important scientific research. That's right. 12 00:00:46,680 --> 00:00:49,519 Speaker 1: And you can go to mobro dot c O slash 13 00:00:49,600 --> 00:00:52,479 Speaker 1: Charles Bryant and that's my page, or just go to 14 00:00:52,520 --> 00:00:55,200 Speaker 1: the November site. Type in Charles Bryan in the search 15 00:00:55,280 --> 00:00:57,920 Speaker 1: bar and look for the picture of me. There's only 16 00:00:57,920 --> 00:00:59,920 Speaker 1: a couple of ups out there. Check's wearing a red shirt. 17 00:01:00,520 --> 00:01:03,680 Speaker 1: That's right. Yeah, um, so what is that again? That's 18 00:01:03,720 --> 00:01:06,960 Speaker 1: mo bro dot CEO slash Charles Bryant. Yes, thank you 19 00:01:07,000 --> 00:01:09,640 Speaker 1: in advance. Yeah, that's nice chucking All right, let's get 20 00:01:09,640 --> 00:01:13,840 Speaker 1: to it, hey, and welcome to the podcast. I'm Josh Clark. 21 00:01:14,000 --> 00:01:17,039 Speaker 1: With me is always Charles W. Chuck Bryant. Oh, hold 22 00:01:17,040 --> 00:01:19,080 Speaker 1: on a second, buddy, Yeah, I think you've got something 23 00:01:19,160 --> 00:01:21,759 Speaker 1: you need to say. Oh yeah, um, let's go ahead 24 00:01:21,800 --> 00:01:26,399 Speaker 1: and plug our buddies over at Science Channel, our other home. Yeah. Uh. 25 00:01:26,480 --> 00:01:30,080 Speaker 1: Then they're airing punkin Chunking, the annual awesome fest of 26 00:01:30,680 --> 00:01:34,760 Speaker 1: shooting pumpkins through the air as far as you can 27 00:01:35,240 --> 00:01:39,000 Speaker 1: and then making them explode on contact. It's pretty great. Yeah, 28 00:01:39,080 --> 00:01:42,080 Speaker 1: it's a it's a real thing. Uh. And then Science 29 00:01:42,080 --> 00:01:44,440 Speaker 1: Shane ghosts every year and films it and they air 30 00:01:44,520 --> 00:01:47,920 Speaker 1: it as what's become a Thanksgiving tradition. So they're gonna 31 00:01:47,920 --> 00:01:50,680 Speaker 1: air it this Thanksgiving November twenty two and a pm. Right, 32 00:01:51,240 --> 00:01:53,320 Speaker 1: that's right. And we are still waiting to get invited 33 00:01:53,360 --> 00:01:56,400 Speaker 1: to go chunk punkins ourselves. We got invited last year, 34 00:01:56,440 --> 00:01:58,400 Speaker 1: did we? I think so? Oh yeah, but it was 35 00:01:58,440 --> 00:02:00,640 Speaker 1: like you guys can come if you want, if you 36 00:02:00,640 --> 00:02:03,600 Speaker 1: happen to be in the Northeast. Yeah, but it wasn't like, uh, 37 00:02:04,120 --> 00:02:08,200 Speaker 1: I wanted a formal invitation to participate. Okay, I got you. Um, 38 00:02:08,280 --> 00:02:11,079 Speaker 1: and uh, if you are in the punkin Chunking, Uh, 39 00:02:11,200 --> 00:02:14,639 Speaker 1: then you might want to go online to check out 40 00:02:14,760 --> 00:02:17,359 Speaker 1: the road to punk and Chunking. That's already up. There's 41 00:02:17,360 --> 00:02:20,040 Speaker 1: some great video to search punkin p U n k 42 00:02:20,160 --> 00:02:22,600 Speaker 1: I N chunking c h U n k I n 43 00:02:23,000 --> 00:02:25,280 Speaker 1: and science in your favorite search engine and it'll bring 44 00:02:25,320 --> 00:02:28,880 Speaker 1: that right up. Uh, and don't forget November twenty two, 45 00:02:29,200 --> 00:02:32,680 Speaker 1: this Thanksgiving at a p m. On Science Channel, punkin 46 00:02:32,760 --> 00:02:37,919 Speaker 1: Chunking the tradition. Yes, all right, you ready now, I'm ready, okay. 47 00:02:38,120 --> 00:02:44,400 Speaker 1: Back today is our good friend and longtime producer Jerry. Yeah, 48 00:02:44,639 --> 00:02:47,640 Speaker 1: I alins we had the class machine. Yeah. Well, people 49 00:02:47,639 --> 00:02:50,799 Speaker 1: are slow clapping all across the world right now, right, 50 00:02:51,520 --> 00:02:56,040 Speaker 1: very sar Jerry, We're so like you're back so much. 51 00:02:56,280 --> 00:02:59,880 Speaker 1: Just let know a slow clap is meaningful, yeah, but 52 00:03:00,080 --> 00:03:03,600 Speaker 1: can very easily be turned sarcastic. Just kind of cut 53 00:03:03,680 --> 00:03:07,040 Speaker 1: your head, decide. And I wonder what the first slow 54 00:03:07,040 --> 00:03:09,400 Speaker 1: clap was in a movie? You know, such a trope 55 00:03:09,400 --> 00:03:11,040 Speaker 1: at this point, but I wonder who invented it. A 56 00:03:11,040 --> 00:03:13,480 Speaker 1: bet of that information is out there. I want to know, 57 00:03:14,080 --> 00:03:17,840 Speaker 1: don't you want to know? I'm sure some movie website 58 00:03:17,919 --> 00:03:21,320 Speaker 1: is probably tracked this down. First slow clap. Let's find it, everybody. 59 00:03:21,919 --> 00:03:25,720 Speaker 1: Well wait, oh wait, uh, we should probably just go 60 00:03:25,720 --> 00:03:29,520 Speaker 1: ahead and do let's do it, Um Chuck. Yes, have 61 00:03:29,639 --> 00:03:34,040 Speaker 1: you ever given money to somebody who did nothing for 62 00:03:34,080 --> 00:03:37,280 Speaker 1: you in return? Maybe didn't sell you a good or service. 63 00:03:38,120 --> 00:03:40,760 Speaker 1: I just gave him the money. What do you mean 64 00:03:40,800 --> 00:03:47,240 Speaker 1: just like uh someone panhandler, charitable organization? That's philanthropy. You're 65 00:03:47,240 --> 00:03:51,280 Speaker 1: a philanthropist. Did you know that? Like that's all it takes. 66 00:03:51,640 --> 00:03:56,800 Speaker 1: And even better, this is the bright shiny episode. In 67 00:03:56,880 --> 00:04:00,200 Speaker 1: my opinion, I'm proud of this one. Um, have answer, 68 00:04:00,280 --> 00:04:04,240 Speaker 1: p works. You don't even need money, donate your time. 69 00:04:05,200 --> 00:04:09,520 Speaker 1: Your time is very valuable, Chuck. Yeah, And I think, well, 70 00:04:09,560 --> 00:04:12,080 Speaker 1: I can't say this because I'm just speculating, but it 71 00:04:12,120 --> 00:04:14,000 Speaker 1: seems to me that people are either like you know, 72 00:04:14,160 --> 00:04:17,360 Speaker 1: my my time is too valuable, but like I can 73 00:04:17,360 --> 00:04:20,280 Speaker 1: write someone to check yeah, or like I'm a little 74 00:04:20,360 --> 00:04:23,120 Speaker 1: light but I can't give my time. Or you can 75 00:04:23,120 --> 00:04:25,480 Speaker 1: put it like, well, the government doesn't let me deduct 76 00:04:26,279 --> 00:04:29,040 Speaker 1: time that i've donated, but they will let me deduct 77 00:04:29,040 --> 00:04:31,440 Speaker 1: the hundreds of thousands of dollars i've donated this year. 78 00:04:31,760 --> 00:04:34,640 Speaker 1: They should let you deduct time because they've actually figured 79 00:04:34,640 --> 00:04:39,160 Speaker 1: out I have like averages, like an hourly wage, volunteerism. Yeah, nice, 80 00:04:39,320 --> 00:04:41,720 Speaker 1: that would be awesome. Let's get that in the tax code. 81 00:04:41,760 --> 00:04:44,640 Speaker 1: That's a great idea. UM. You can, however, like if 82 00:04:44,680 --> 00:04:47,840 Speaker 1: you were, say, um, donating your time by going down 83 00:04:47,880 --> 00:04:50,799 Speaker 1: to like Louisiana to help clean up after a hurricane, 84 00:04:50,920 --> 00:04:55,320 Speaker 1: or Kansas or Missouri to help clean up after a tornado, 85 00:04:56,160 --> 00:04:58,320 Speaker 1: and you like bought a bus ticket or you drove, 86 00:04:58,560 --> 00:05:02,840 Speaker 1: you can deduct transportation and costs. But once you get there, 87 00:05:03,360 --> 00:05:09,640 Speaker 1: the government doesn't care about you. But you candiduc money 88 00:05:10,480 --> 00:05:14,240 Speaker 1: as far as transportation. Oh and just regular contributions, right. 89 00:05:14,240 --> 00:05:16,400 Speaker 1: It depending on on who you give to. And we 90 00:05:16,440 --> 00:05:19,279 Speaker 1: have a very thrilling segment in this episode about the 91 00:05:19,320 --> 00:05:21,880 Speaker 1: tax code, um, the ins and outs of it. Chuck 92 00:05:21,920 --> 00:05:23,560 Speaker 1: is not very excited about it. I think this is 93 00:05:23,640 --> 00:05:26,840 Speaker 1: kind of neat um. But we're talking about philanthropy and 94 00:05:27,920 --> 00:05:30,479 Speaker 1: it's kind of become I don't want to say vogue. 95 00:05:31,360 --> 00:05:35,120 Speaker 1: Maybe it has for the ultra rich, some of the 96 00:05:35,200 --> 00:05:37,400 Speaker 1: richest people in the world, at least the richest people 97 00:05:37,400 --> 00:05:41,760 Speaker 1: in America, like Bill Gates, Warren Buffett yea to sign 98 00:05:42,120 --> 00:05:46,240 Speaker 1: a pledge that Bill Gates created, the Bill and Melinda 99 00:05:46,279 --> 00:05:49,440 Speaker 1: Gates Foundation created this thing. Saying, hey, we're going to 100 00:05:50,000 --> 00:05:53,240 Speaker 1: donate at least half of our vast wealth, and they're 101 00:05:53,240 --> 00:05:55,880 Speaker 1: trying to sign billionaires up to agree to this and 102 00:05:55,920 --> 00:06:00,120 Speaker 1: then we'll just be super super super wealthy. Well, the 103 00:06:00,120 --> 00:06:03,039 Speaker 1: Bill and Melinda Gates Foundation is this like superstar foundation 104 00:06:03,080 --> 00:06:06,200 Speaker 1: that was like in the assets that controls is like 105 00:06:06,240 --> 00:06:08,919 Speaker 1: the GDP of several nations. That's pretty amazing. It's like 106 00:06:08,960 --> 00:06:11,960 Speaker 1: thirty seven billion dollars in assets right now. You can 107 00:06:11,960 --> 00:06:13,960 Speaker 1: do a lot of good with that. And one of 108 00:06:13,960 --> 00:06:17,200 Speaker 1: the people they signed on was Warren Buffett, and he's 109 00:06:17,240 --> 00:06:21,159 Speaker 1: worth forty nine billion dollars right now. He's pledged of 110 00:06:21,200 --> 00:06:24,320 Speaker 1: his fortune to the Gates Foundation afterward after he's dead, 111 00:06:24,720 --> 00:06:27,360 Speaker 1: which I mean he's getting up there. So they may 112 00:06:27,400 --> 00:06:32,440 Speaker 1: have about eighty billion dollars in assets in their control, 113 00:06:33,360 --> 00:06:37,000 Speaker 1: which is a well, I was gonna say that's almost 114 00:06:37,400 --> 00:06:39,920 Speaker 1: as much. It's about three quarters of the assets are 115 00:06:39,960 --> 00:06:43,920 Speaker 1: the value the capital value of the most valuable corporation 116 00:06:43,960 --> 00:06:48,120 Speaker 1: in the world, Apple, which ironically had a founder who 117 00:06:48,160 --> 00:06:51,640 Speaker 1: may have never given a cent to charity. Oh really, 118 00:06:52,120 --> 00:06:55,680 Speaker 1: Steve Jobs died without officially having given any money to 119 00:06:55,800 --> 00:07:02,279 Speaker 1: charity at all. Any He was notoriously stingy, and after 120 00:07:02,279 --> 00:07:04,360 Speaker 1: his death there is a lot of talk like, Okay, 121 00:07:04,520 --> 00:07:07,720 Speaker 1: did he did he really amass an eight billion dollar 122 00:07:07,800 --> 00:07:10,760 Speaker 1: fortune and not donate any of it, And a lot 123 00:07:10,800 --> 00:07:12,800 Speaker 1: of people were like, you know what, even if he didn't, 124 00:07:13,200 --> 00:07:17,320 Speaker 1: you know, to heck with you, he gave this technology 125 00:07:17,360 --> 00:07:19,960 Speaker 1: to the world and people are using it to better humanity. Well, 126 00:07:20,000 --> 00:07:22,320 Speaker 1: he doesn't need to give money. And other people are like, yeah, 127 00:07:22,600 --> 00:07:25,240 Speaker 1: if you have eight billion dollars in personal wealth, you 128 00:07:25,280 --> 00:07:27,520 Speaker 1: need to give some of that for other things like 129 00:07:27,720 --> 00:07:32,360 Speaker 1: water and stuff that you can't use an iPhone app for, right, Sure, 130 00:07:32,480 --> 00:07:34,520 Speaker 1: I guess it depends on how you feel about it all. 131 00:07:34,560 --> 00:07:36,440 Speaker 1: And then there was another camp that was saying, hey, 132 00:07:36,640 --> 00:07:39,440 Speaker 1: it's totally possible that he was just not a jerk 133 00:07:39,560 --> 00:07:42,360 Speaker 1: and he donated a lot of money, But he did anonymously. 134 00:07:42,920 --> 00:07:44,840 Speaker 1: He didn't want a bunch of glory or he didn't 135 00:07:44,840 --> 00:07:47,960 Speaker 1: want a bunch of charities knocking down his door like, hey, hey, 136 00:07:48,040 --> 00:07:50,560 Speaker 1: give us some too, for whatever reason. But you're saying 137 00:07:50,560 --> 00:07:52,880 Speaker 1: that did not happen. He didn't give anonymously. No one knows. 138 00:07:52,920 --> 00:07:54,840 Speaker 1: It's a mystery. Oh, I thought you said for sure 139 00:07:54,880 --> 00:07:56,600 Speaker 1: he didn't give any money ever, because he was so 140 00:07:56,680 --> 00:08:00,800 Speaker 1: cheap on paper. Oh there is no no record of 141 00:08:00,920 --> 00:08:04,400 Speaker 1: him ever giving a cent to charity, but it's pretty 142 00:08:04,560 --> 00:08:07,640 Speaker 1: pretty interesting, Like I can't imagine having a billion dollars 143 00:08:07,680 --> 00:08:10,000 Speaker 1: and not giving any of it away. But he Bill 144 00:08:10,000 --> 00:08:12,720 Speaker 1: Gates approached him and he's like, nah, I'm not signing 145 00:08:12,760 --> 00:08:15,280 Speaker 1: that pledge, and will you pick up the check? Right? 146 00:08:15,280 --> 00:08:18,600 Speaker 1: Exactly right? Yeah, it's like I don't validate parking you again. 147 00:08:19,760 --> 00:08:24,200 Speaker 1: I remember um Ted Turner kind of was one of 148 00:08:24,200 --> 00:08:25,840 Speaker 1: the original guys to give a ton of money. When 149 00:08:25,840 --> 00:08:27,360 Speaker 1: he gave the billion to the un I remember that 150 00:08:27,400 --> 00:08:29,160 Speaker 1: was a really big deal at the time. Yeah, I 151 00:08:29,200 --> 00:08:31,080 Speaker 1: don't know that he gave it to the u N 152 00:08:31,640 --> 00:08:35,000 Speaker 1: What do they do with it? I don't know, because 153 00:08:35,120 --> 00:08:37,360 Speaker 1: just they went in the general fun I guess so. 154 00:08:37,960 --> 00:08:39,280 Speaker 1: But it was a big deal of the time. This 155 00:08:39,360 --> 00:08:41,199 Speaker 1: was a long time ago, but like in the seventies 156 00:08:41,280 --> 00:08:44,920 Speaker 1: or eighties, no nineties. I don't have to look, but 157 00:08:44,960 --> 00:08:47,319 Speaker 1: it was long enough to go. I go such that 158 00:08:48,000 --> 00:08:49,880 Speaker 1: it was a really big deal that someone gave a billion, 159 00:08:49,880 --> 00:08:52,360 Speaker 1: A personal individual gave a billion dollars. I think at 160 00:08:52,360 --> 00:08:54,439 Speaker 1: the time it might have been the largest individual donation. 161 00:08:54,720 --> 00:09:00,880 Speaker 1: That's crazy. That's neat. I like that though, cool guy. Yeah. Um. 162 00:09:01,040 --> 00:09:03,520 Speaker 1: But this whole thing, this trend that's going on among 163 00:09:04,640 --> 00:09:09,199 Speaker 1: the uber wealthy um is kind of this throwback to 164 00:09:09,600 --> 00:09:13,440 Speaker 1: the beginning of the last century when like the Rockefellers, 165 00:09:13,640 --> 00:09:16,880 Speaker 1: um and the Carnegies were setting up foundations that are 166 00:09:16,920 --> 00:09:23,600 Speaker 1: still around today. Yeah, the Ford Foundation, the UM what 167 00:09:23,679 --> 00:09:27,480 Speaker 1: the Rockefeller they created like a bunch of different trusts 168 00:09:27,480 --> 00:09:31,200 Speaker 1: Dirty Rock. Yeah, University of Chicago. That was another thing 169 00:09:31,240 --> 00:09:36,120 Speaker 1: that was invokes setting up huge universities, Cornell, Sanford, all 170 00:09:36,200 --> 00:09:39,920 Speaker 1: those were rich people endowing universities. It was like there 171 00:09:39,960 --> 00:09:42,680 Speaker 1: wasn't a university. Therefore, now there is. What's the one 172 00:09:42,720 --> 00:09:48,320 Speaker 1: you always here on NPR, the Ford Foundation, the Joseph 173 00:09:48,520 --> 00:09:54,360 Speaker 1: and Catherine. Man, it's so in my consciousness, I can't believe. 174 00:09:54,400 --> 00:09:58,160 Speaker 1: I can't just split it up. You know, one of 175 00:09:58,200 --> 00:10:01,280 Speaker 1: us will shout it in about forty five Yeah, exactly, okay, 176 00:10:01,280 --> 00:10:04,440 Speaker 1: But anyway, so um, Yeah, you usually associate philanthropy with 177 00:10:04,480 --> 00:10:06,640 Speaker 1: the uber wealthy, but it doesn't have to be. You 178 00:10:06,679 --> 00:10:08,600 Speaker 1: can be poor and as a matter of fact, the 179 00:10:08,720 --> 00:10:13,760 Speaker 1: poorest Americans contribute the highest percentage of their income of 180 00:10:13,800 --> 00:10:17,839 Speaker 1: any income bracket in the country. Did you know that? Yeah? 181 00:10:17,880 --> 00:10:20,920 Speaker 1: I did. And in fact, if the richest people contributed 182 00:10:20,960 --> 00:10:25,800 Speaker 1: that same percentage, then um, there would be fewer problems 183 00:10:25,840 --> 00:10:28,080 Speaker 1: in the world. I would say, So, you know, but 184 00:10:28,160 --> 00:10:30,800 Speaker 1: the rich people give the most because they have the most. Yeah, 185 00:10:30,920 --> 00:10:32,760 Speaker 1: I've got stats, but we'll get to those later. Well, 186 00:10:32,840 --> 00:10:35,800 Speaker 1: let's talk about a couple of stats. How many charities 187 00:10:35,840 --> 00:10:38,040 Speaker 1: are there in the country. Well, this says six hundred 188 00:10:38,080 --> 00:10:40,000 Speaker 1: thousand in the article. I think it's a little out 189 00:10:40,040 --> 00:10:43,320 Speaker 1: of date, is it? Because I found um, in two 190 00:10:43,320 --> 00:10:47,760 Speaker 1: thousand eleven there are approximately one million, eighty thousand, one 191 00:10:48,200 --> 00:10:52,080 Speaker 1: thirty charitable organizations. Um. This says that was a decrease 192 00:10:52,120 --> 00:10:57,080 Speaker 1: from so maybe this counts. Maybe this only counted, although 193 00:10:57,120 --> 00:10:59,360 Speaker 1: this is it counts foundations. Yeah, I think there was 194 00:10:59,440 --> 00:11:03,200 Speaker 1: an enormal increase. Yeah, because I have the feeling that 195 00:11:03,240 --> 00:11:06,880 Speaker 1: this article is written about two thousand three. Okay, well 196 00:11:06,880 --> 00:11:09,400 Speaker 1: that that would be a real big increase in a 197 00:11:09,440 --> 00:11:13,480 Speaker 1: million a million plus. So, um, three hundred and fifty 198 00:11:13,480 --> 00:11:17,280 Speaker 1: five of which are religious congregations, which we'll get into 199 00:11:17,360 --> 00:11:22,280 Speaker 1: that three thousand, um, and then uh, in the United 200 00:11:22,320 --> 00:11:26,960 Speaker 1: States and two thousand eleven charitable giving total two hundred 201 00:11:27,080 --> 00:11:31,439 Speaker 1: ninety eight billion dollars. Yeah. Um, and that was an 202 00:11:31,440 --> 00:11:35,400 Speaker 1: increase from two dozen ten, which saw two six billion dollars. Yeah, 203 00:11:35,440 --> 00:11:38,840 Speaker 1: two hundred and seventeen from individuals, which is pretty amazing 204 00:11:38,840 --> 00:11:43,640 Speaker 1: that se of all charitable gifts are from people. And 205 00:11:43,720 --> 00:11:46,800 Speaker 1: if you factor in bequests like people's leaving stuff in 206 00:11:46,800 --> 00:11:51,400 Speaker 1: their wills, which is also individuals and family foundations, it 207 00:11:51,840 --> 00:11:54,719 Speaker 1: rises to eighty eight percent and more than that, I think. 208 00:11:54,880 --> 00:11:58,959 Speaker 1: And then I saw percent on philanthropy dot com, the 209 00:11:59,040 --> 00:12:02,240 Speaker 1: Chronical of Philanthropy. Uh well, I have foundations at fourteen percent, 210 00:12:02,360 --> 00:12:06,520 Speaker 1: bequest at eight percent, and in last place corporate donations 211 00:12:06,559 --> 00:12:11,520 Speaker 1: at five mm. Apparently they get the least. And you 212 00:12:11,559 --> 00:12:12,760 Speaker 1: know what I just heard the other day. I don't 213 00:12:12,760 --> 00:12:14,880 Speaker 1: know if this is true. Maybe we can get confirmation. 214 00:12:15,320 --> 00:12:17,800 Speaker 1: You know, when you go to the grocery store and 215 00:12:18,040 --> 00:12:21,000 Speaker 1: they ask you to would you like to donate to 216 00:12:21,360 --> 00:12:25,560 Speaker 1: marchup dimes or whatever like on your thing? Yeah, where 217 00:12:25,600 --> 00:12:28,600 Speaker 1: is this coming? A listener about this was that? Yeah? 218 00:12:28,600 --> 00:12:31,280 Speaker 1: I think maybe that was it. Someone said that they 219 00:12:31,320 --> 00:12:36,720 Speaker 1: call those donations under their companies, under their corporation, and 220 00:12:36,840 --> 00:12:40,600 Speaker 1: like like you know, the grocery store donated that money 221 00:12:41,320 --> 00:12:44,000 Speaker 1: and gets the tllions of dollars and gets a text deduction. 222 00:12:44,280 --> 00:12:46,040 Speaker 1: And so I'm not saying you shouldn't do that, but 223 00:12:46,080 --> 00:12:48,520 Speaker 1: it's just something to consider for sure. Let's say let's 224 00:12:48,520 --> 00:12:50,880 Speaker 1: say you're like, no, I'm not giving a cent to 225 00:12:51,240 --> 00:12:55,120 Speaker 1: March of Dimes. Premature babies can all like um, And 226 00:12:55,160 --> 00:12:58,319 Speaker 1: then but you really really care about muscular distrophe. So 227 00:12:58,400 --> 00:13:00,360 Speaker 1: the time when they hit you up for that sham rock, 228 00:13:00,679 --> 00:13:02,440 Speaker 1: be like, of course, not only will I give one dollar, 229 00:13:02,480 --> 00:13:05,440 Speaker 1: will give five dollars? Well t s for you because 230 00:13:05,480 --> 00:13:08,040 Speaker 1: you have no say whatsoever and where that money is going. 231 00:13:08,080 --> 00:13:10,240 Speaker 1: Because they pull it all together in a plot that 232 00:13:10,280 --> 00:13:13,400 Speaker 1: they shell out quarterly or annually, and then they take 233 00:13:13,679 --> 00:13:17,320 Speaker 1: the tax reexplot. Whoever wrote that in um, like, I've 234 00:13:17,360 --> 00:13:20,600 Speaker 1: stopped all together giving it a grocery store now, like 235 00:13:20,640 --> 00:13:23,160 Speaker 1: I don't even consider I don't even feel bad saying no, Now, 236 00:13:23,320 --> 00:13:25,160 Speaker 1: yeah I have. I have kind of stopped doing that too, 237 00:13:25,280 --> 00:13:29,520 Speaker 1: just because if you're gonna give money, that will explain 238 00:13:29,559 --> 00:13:32,040 Speaker 1: you should take the time to research and do it 239 00:13:32,080 --> 00:13:33,839 Speaker 1: in a way that you feel good about and it's 240 00:13:33,880 --> 00:13:35,640 Speaker 1: responsible and that you know where the money is going 241 00:13:35,760 --> 00:13:40,800 Speaker 1: and all that stuff. Let's talk about that buddy. Um. Well, 242 00:13:40,840 --> 00:13:42,280 Speaker 1: one thing they point out early in the in the 243 00:13:42,360 --> 00:13:44,439 Speaker 1: article though, that we should say is that these days 244 00:13:44,760 --> 00:13:48,720 Speaker 1: more and more nonprofits are seeking funds in different ways 245 00:13:48,760 --> 00:13:52,680 Speaker 1: because um, a lot of government funding is declining and 246 00:13:53,480 --> 00:13:57,920 Speaker 1: uh going away all together. So they need money more 247 00:13:57,920 --> 00:14:01,600 Speaker 1: than ever. Uh and costs are going obviously. So that 248 00:14:01,720 --> 00:14:05,720 Speaker 1: is why you will see websites and billboards and door 249 00:14:05,760 --> 00:14:09,240 Speaker 1: to door and flyers and everything to get in touch 250 00:14:09,320 --> 00:14:14,920 Speaker 1: with the potential. Uh. Don't donate or don't or don't 251 00:14:15,000 --> 00:14:16,920 Speaker 1: or right, that's a good thing. They wrote. A word 252 00:14:17,800 --> 00:14:22,080 Speaker 1: means that. Uh. But like you said, philanthropy doesn't have 253 00:14:22,120 --> 00:14:24,640 Speaker 1: to be just about money. No it doesn't. But the 254 00:14:24,760 --> 00:14:29,240 Speaker 1: word philanthropy means that you love humans. Phil means loving 255 00:14:29,880 --> 00:14:34,840 Speaker 1: anthrope or anthropo or anthropy is humankind. So you love 256 00:14:34,920 --> 00:14:37,520 Speaker 1: human kind by giving money to it. That's how you're 257 00:14:37,560 --> 00:14:43,120 Speaker 1: demonstrating your love of humankind. Um. Checking out charity. So 258 00:14:43,560 --> 00:14:46,880 Speaker 1: this is a big one. It's a big deal. I 259 00:14:46,880 --> 00:14:50,360 Speaker 1: don't know how many people do this. I think, I 260 00:14:50,400 --> 00:14:54,040 Speaker 1: don't know. I want to say I don't you know, 261 00:14:54,600 --> 00:14:57,400 Speaker 1: but I mean, like normally the charitable giving I do 262 00:14:57,600 --> 00:15:00,560 Speaker 1: is like, you know, whoever's bringing the Bell at that 263 00:15:00,600 --> 00:15:04,960 Speaker 1: moment or something like that, or it was UM or 264 00:15:05,080 --> 00:15:08,640 Speaker 1: it's on an individual basis, like it's not necessarily through charity, right, 265 00:15:09,120 --> 00:15:12,560 Speaker 1: I hear you. UM. They say there are a few 266 00:15:12,600 --> 00:15:14,520 Speaker 1: guidelines you can look for if you're checking out a 267 00:15:14,560 --> 00:15:17,960 Speaker 1: charity to judge whether or not you think they're you know, 268 00:15:18,240 --> 00:15:23,600 Speaker 1: spending money wisely, UM generally fifty of every dollar should 269 00:15:23,640 --> 00:15:27,560 Speaker 1: go to the actual work the charity work, right, and 270 00:15:27,560 --> 00:15:31,960 Speaker 1: then the other remaining for operational marketing administrative costs. So 271 00:15:32,160 --> 00:15:35,680 Speaker 1: I I from what I saw, that's a very generous 272 00:15:36,280 --> 00:15:44,240 Speaker 1: towards the charities. Percentage I saw of your costs for 273 00:15:44,360 --> 00:15:49,360 Speaker 1: UM administration and fundraising should go to programs. But that's 274 00:15:49,560 --> 00:15:53,600 Speaker 1: charity choices dot com that says that that's probably the ideal. Yeah, 275 00:15:53,640 --> 00:15:56,480 Speaker 1: I'm sure. I think that the sixty cents is like 276 00:15:56,560 --> 00:15:59,240 Speaker 1: anything less than this and you should really like examine. 277 00:15:59,640 --> 00:16:01,520 Speaker 1: It means there's people at the top taking a big 278 00:16:01,520 --> 00:16:03,840 Speaker 1: paycheck or they're not doing a very good job of 279 00:16:03,920 --> 00:16:07,160 Speaker 1: managing their money. But it could also mean that if 280 00:16:07,200 --> 00:16:09,000 Speaker 1: you look at the age of the charity or the 281 00:16:09,000 --> 00:16:12,360 Speaker 1: size of the charity, like there's an economy of scale 282 00:16:12,360 --> 00:16:16,400 Speaker 1: in raising money. So if you, if you are established, 283 00:16:16,440 --> 00:16:19,000 Speaker 1: you have an established name, or you've been doing this 284 00:16:19,040 --> 00:16:22,160 Speaker 1: a while, your your phone raising costs are going to 285 00:16:22,200 --> 00:16:25,040 Speaker 1: be lower than say a new charity or a radical 286 00:16:25,120 --> 00:16:29,000 Speaker 1: charity that that does controversial work, because they're gonna have 287 00:16:29,000 --> 00:16:32,360 Speaker 1: a harder time generating money. So just because their fundraising 288 00:16:32,400 --> 00:16:34,040 Speaker 1: costs are high, it doesn't mean that they're all like 289 00:16:35,120 --> 00:16:38,520 Speaker 1: just enjoying lavish tuxedo based parties. And that's where all 290 00:16:38,560 --> 00:16:44,960 Speaker 1: the money is based, rather than business casual based, rather 291 00:16:45,000 --> 00:16:49,600 Speaker 1: than turtlenecks and jackets based. If you want to find 292 00:16:49,600 --> 00:16:53,120 Speaker 1: out about a charity job in it, you can write 293 00:16:53,160 --> 00:16:57,320 Speaker 1: a letter to the local charity registration office, usually within 294 00:16:57,360 --> 00:17:01,000 Speaker 1: the state Attorney General's office, and six eight weeks later 295 00:17:01,160 --> 00:17:03,960 Speaker 1: you might get a letter back. These days, you can 296 00:17:04,000 --> 00:17:07,639 Speaker 1: go online and uh, I went online actually today and 297 00:17:07,680 --> 00:17:11,840 Speaker 1: registered with guide Star and there's a charity. No has 298 00:17:11,920 --> 00:17:15,879 Speaker 1: the money started coming in? Um No. Guide Star is 299 00:17:15,880 --> 00:17:17,200 Speaker 1: one of the places you can go to check out 300 00:17:17,200 --> 00:17:19,399 Speaker 1: other charities, and you have to register to log in. 301 00:17:20,119 --> 00:17:22,840 Speaker 1: And because I wanted to check out, you know, like 302 00:17:23,080 --> 00:17:26,520 Speaker 1: our friends at Cooperative for Education. Yes, like all the 303 00:17:26,520 --> 00:17:30,600 Speaker 1: records are there for what you're looking for. I looked 304 00:17:30,640 --> 00:17:32,840 Speaker 1: at it text form, and you know what my first 305 00:17:32,880 --> 00:17:35,720 Speaker 1: thought was, Man, I feel so bad that Joe and 306 00:17:35,720 --> 00:17:39,320 Speaker 1: those guys have to fill this thing out every year. Dude, 307 00:17:39,320 --> 00:17:41,359 Speaker 1: it was so long, and but they don't have to 308 00:17:41,400 --> 00:17:45,679 Speaker 1: file taxes. So yeah, true whatever, it's all awash, right, 309 00:17:46,000 --> 00:17:47,920 Speaker 1: but you'll be glad to know they're you know, obviously 310 00:17:47,960 --> 00:17:49,439 Speaker 1: doing great work. They're on the up and up. We 311 00:17:49,480 --> 00:17:51,520 Speaker 1: knew that, Yeah, we definitely didn't know that. We saw 312 00:17:51,560 --> 00:17:55,639 Speaker 1: it firsthand the the we checked those guys out personally, 313 00:17:55,680 --> 00:17:58,760 Speaker 1: I stand behind Cohen. Uh. The Center for Better Better 314 00:17:58,800 --> 00:18:02,520 Speaker 1: Business Bureau, it's another place. The Foundation Center is another place, 315 00:18:03,080 --> 00:18:06,680 Speaker 1: and you can get basically have access to the numbers 316 00:18:06,920 --> 00:18:09,400 Speaker 1: if you really want to check it out thoroughly. Right, 317 00:18:09,480 --> 00:18:12,800 Speaker 1: So the form is gonna have like a general description 318 00:18:12,840 --> 00:18:15,159 Speaker 1: of the work they do, the programs they do, who's 319 00:18:15,240 --> 00:18:19,520 Speaker 1: running the thing, where their money is going? Uh? And 320 00:18:19,560 --> 00:18:21,639 Speaker 1: I think it gets a little more specific than just 321 00:18:21,680 --> 00:18:26,440 Speaker 1: like programs fundraising an administrative costs. Right, doesn't it break 322 00:18:26,440 --> 00:18:30,159 Speaker 1: it down a little more like there's had all the 323 00:18:30,200 --> 00:18:33,480 Speaker 1: different you know drives that they did, and it broke 324 00:18:33,480 --> 00:18:36,000 Speaker 1: it down specifically to you know, if you were into 325 00:18:36,000 --> 00:18:38,040 Speaker 1: looking all that stuff up. It's there, right, and I 326 00:18:38,119 --> 00:18:40,960 Speaker 1: mean like if you really want to know, I mean 327 00:18:40,960 --> 00:18:43,240 Speaker 1: if you give to like a mega charity like the 328 00:18:43,240 --> 00:18:45,640 Speaker 1: Salvation Army in the United Way or something like that. 329 00:18:46,119 --> 00:18:49,280 Speaker 1: Like they have more than than just one program, so 330 00:18:49,480 --> 00:18:51,919 Speaker 1: they may be doing work that you don't necessarily agree with. 331 00:18:52,000 --> 00:18:55,360 Speaker 1: So there's another reason to go look at for um 332 00:18:55,640 --> 00:18:59,159 Speaker 1: because you'll see what what programs they're carrying out, like 333 00:18:59,200 --> 00:19:01,960 Speaker 1: all of them. Yeah, well that's what the Common Foundation 334 00:19:02,000 --> 00:19:03,760 Speaker 1: got in hot water, remember with the whole plan parent 335 00:19:03,800 --> 00:19:06,320 Speaker 1: a thing last year or was that early this year? 336 00:19:06,359 --> 00:19:09,000 Speaker 1: It was so at some point in the recent past. Yeah, 337 00:19:09,119 --> 00:19:11,400 Speaker 1: So that's you know, there's when you get that big. 338 00:19:11,440 --> 00:19:14,160 Speaker 1: There are other associations you might want to know about. Yeah, 339 00:19:14,200 --> 00:19:19,239 Speaker 1: depending on your your affiliation, you're socio political affiliation, that's right. Uh. 340 00:19:19,280 --> 00:19:22,040 Speaker 1: There's about three ways that they're going to be spending 341 00:19:22,080 --> 00:19:27,399 Speaker 1: their money though program services, and these are what you 342 00:19:27,440 --> 00:19:29,960 Speaker 1: want your money to be going to most. If you 343 00:19:29,960 --> 00:19:32,399 Speaker 1: want to just feel better about yourself at night, you 344 00:19:32,440 --> 00:19:34,439 Speaker 1: don't want to think paid the water bill there at 345 00:19:34,480 --> 00:19:37,080 Speaker 1: the building. You want to think I've put a sandwich 346 00:19:37,119 --> 00:19:41,160 Speaker 1: in a needy kid's hand a good one too. Uh. 347 00:19:41,240 --> 00:19:44,399 Speaker 1: Management operational costs is next. Like I said, it's a 348 00:19:44,400 --> 00:19:46,320 Speaker 1: little less exciting to think about that, but they need 349 00:19:46,359 --> 00:19:50,159 Speaker 1: to pay their rent and bills, definitely they need. And 350 00:19:50,200 --> 00:19:53,880 Speaker 1: then you've got fundraising, yeah, which can really rack it up. 351 00:19:54,080 --> 00:19:58,200 Speaker 1: I mean it's everything from like direct mailer's too lavish parties, um, 352 00:19:58,240 --> 00:20:02,000 Speaker 1: if you're courting celebrities and they like that kind of thing. Um. 353 00:20:02,200 --> 00:20:07,879 Speaker 1: And a well run, well managed charity can take you know, 354 00:20:08,240 --> 00:20:11,200 Speaker 1: X number of dollars whatever they're they're fundraising costs are 355 00:20:11,240 --> 00:20:15,560 Speaker 1: and grow it exponentially, use it correctly. But there's also 356 00:20:15,640 --> 00:20:17,400 Speaker 1: charities out there that don't know what they're doing and 357 00:20:17,600 --> 00:20:21,119 Speaker 1: shouldn't get the same funding. If you've got over a million, 358 00:20:21,240 --> 00:20:23,879 Speaker 1: there's bound to be a handful that aren't quite right, 359 00:20:24,080 --> 00:20:27,480 Speaker 1: you know, and some that are outright scams. Yeah, unfortunately, 360 00:20:28,800 --> 00:20:30,480 Speaker 1: and I think we have one of those, don't. Well. 361 00:20:30,560 --> 00:20:33,080 Speaker 1: There was a guy, um in this article, there's a 362 00:20:33,119 --> 00:20:38,120 Speaker 1: guy in Texas who after a tornado I think hit Austin, 363 00:20:38,160 --> 00:20:40,720 Speaker 1: he set up a charity that asked people the mail 364 00:20:40,760 --> 00:20:44,600 Speaker 1: one dollar donations checks made out to cash and mail 365 00:20:44,680 --> 00:20:46,920 Speaker 1: him too this po box and people did. He kept 366 00:20:46,920 --> 00:20:51,639 Speaker 1: the money. Unsurprisingly, there's just there's a bad place for 367 00:20:51,760 --> 00:20:55,600 Speaker 1: those people in their next life. Drifters. It's about the 368 00:20:55,600 --> 00:20:58,240 Speaker 1: worst thing you can do. No one likes you when 369 00:20:58,280 --> 00:21:01,600 Speaker 1: you're a grifter. Other grifters don't like you. Sure they'll 370 00:21:01,640 --> 00:21:06,960 Speaker 1: make movies about you, but I mean, like that's about it, Josh. 371 00:21:07,160 --> 00:21:09,040 Speaker 1: How would you go about so listening money if you 372 00:21:09,080 --> 00:21:13,360 Speaker 1: were a charity, if you're a nonprofit, well not for profit, Well, 373 00:21:13,400 --> 00:21:15,440 Speaker 1: one of the things I would do is probably take 374 00:21:15,560 --> 00:21:21,920 Speaker 1: some of my initial UM money, my initial capital, and um, 375 00:21:21,960 --> 00:21:25,160 Speaker 1: I would buy some mailing lists of other donors from 376 00:21:25,200 --> 00:21:28,880 Speaker 1: other charities, which is extremely common practice these days. Yeah, 377 00:21:28,880 --> 00:21:31,080 Speaker 1: I wonder what kind of money to make doing that. Well, 378 00:21:31,080 --> 00:21:33,399 Speaker 1: that's that's one reason they do it. They they like 379 00:21:33,440 --> 00:21:36,560 Speaker 1: a charity, will will compile a mailing list and they'll 380 00:21:36,560 --> 00:21:40,439 Speaker 1: sell it to other charities for income. Um. Yes, and 381 00:21:40,480 --> 00:21:44,120 Speaker 1: again it's kind of practice. Uh. They also, um will 382 00:21:44,160 --> 00:21:46,160 Speaker 1: sell them not necessarily just for the money. They may 383 00:21:46,200 --> 00:21:49,399 Speaker 1: swap them with other charities. Because if you've donated to 384 00:21:49,440 --> 00:21:53,120 Speaker 1: a charity, you've separated yourself I imagined from a lot 385 00:21:53,240 --> 00:21:58,199 Speaker 1: of other people. UM. And you're somebody who may be 386 00:21:58,320 --> 00:22:02,200 Speaker 1: willing to give money to a different charity. You two. Um. 387 00:22:02,240 --> 00:22:04,520 Speaker 1: So that's one way I would do a direct mailing. 388 00:22:05,000 --> 00:22:08,600 Speaker 1: I would hire a bunch of clean cut teenagers who 389 00:22:08,600 --> 00:22:11,640 Speaker 1: are enthusiastic about the charity that they represented, and send 390 00:22:11,680 --> 00:22:16,440 Speaker 1: him to the door clearly labeled through uniforms and possibly 391 00:22:16,480 --> 00:22:21,160 Speaker 1: matching khaki pants uh as representatives of the charity, complete 392 00:22:21,200 --> 00:22:26,280 Speaker 1: with identification, and lots of pamphlets about the programs that 393 00:22:26,320 --> 00:22:29,760 Speaker 1: we have. Wow, you're like, you have the starter kit 394 00:22:29,800 --> 00:22:32,479 Speaker 1: ready to go. It's I'm ready. I just need some 395 00:22:33,080 --> 00:22:36,240 Speaker 1: an injection of funding. I don't know the programs yet, 396 00:22:36,280 --> 00:22:38,919 Speaker 1: but everything else I've got lined up. Um. As this 397 00:22:39,040 --> 00:22:41,919 Speaker 1: article points out, if you are getting more solicitation than 398 00:22:41,960 --> 00:22:46,640 Speaker 1: you like, you can right the letter to the organization 399 00:22:47,000 --> 00:22:50,520 Speaker 1: requesting your name be removed. Um. It may or may 400 00:22:50,560 --> 00:22:54,040 Speaker 1: not work, and keep a copy of that letter, or 401 00:22:54,119 --> 00:22:56,640 Speaker 1: you can just go to their website and unsubscribe. Well 402 00:22:56,720 --> 00:22:58,320 Speaker 1: that was I think one of the things that gave 403 00:22:58,320 --> 00:23:01,719 Speaker 1: this away was like, um, the it's saying like more 404 00:23:01,800 --> 00:23:03,800 Speaker 1: and more charities are starting to go to the web 405 00:23:03,880 --> 00:23:06,679 Speaker 1: now exactly, And I think the web was capitalized and 406 00:23:06,720 --> 00:23:11,159 Speaker 1: maybe in quotation marks and then in parentheses afterwards it 407 00:23:11,200 --> 00:23:18,119 Speaker 1: said the Worldwide Web. Um. Um, if you want to donate, 408 00:23:18,240 --> 00:23:22,000 Speaker 1: you can give cash. If you're walking by a Salvation 409 00:23:22,080 --> 00:23:25,200 Speaker 1: Army Santa Claus, you can't. I mean, it's a way 410 00:23:25,240 --> 00:23:26,800 Speaker 1: to go. You can throw your change in the bucket 411 00:23:26,920 --> 00:23:29,200 Speaker 1: if you've done the work. Though you're looking at Form 412 00:23:29,280 --> 00:23:32,200 Speaker 1: nine nineties and stuff like that, that's probably supplemental to 413 00:23:32,280 --> 00:23:35,400 Speaker 1: the actual charitable giving you're doing. So if you are 414 00:23:35,480 --> 00:23:39,439 Speaker 1: like really seriously philanthropic, like it's a pastime of yours 415 00:23:39,600 --> 00:23:44,520 Speaker 1: or a tax strategy as we'll see, Um, you you 416 00:23:44,640 --> 00:23:47,920 Speaker 1: will probably want to write checks because they're good records 417 00:23:48,000 --> 00:23:50,439 Speaker 1: that you want to keep. You might want to go 418 00:23:50,480 --> 00:23:53,040 Speaker 1: down to your bank and get the canceled check after 419 00:23:53,080 --> 00:23:56,600 Speaker 1: it's been cashed and um keep it in a safe 420 00:23:56,640 --> 00:24:01,720 Speaker 1: deposit box. Yes, Or because seven you can donate on 421 00:24:01,720 --> 00:24:04,000 Speaker 1: the internet with your credit card. Yeah, I hear. More 422 00:24:04,000 --> 00:24:06,359 Speaker 1: and more charities are going to the web and they're 423 00:24:06,400 --> 00:24:08,560 Speaker 1: just as many records as if you wrote that check, 424 00:24:09,040 --> 00:24:13,520 Speaker 1: and it's all very legit these days. UM, probably don't 425 00:24:13,560 --> 00:24:15,679 Speaker 1: need to worry about it unless, I mean, if you 426 00:24:15,680 --> 00:24:18,480 Speaker 1: can't tell the difference between a reputable website at this point, 427 00:24:18,560 --> 00:24:21,080 Speaker 1: then you know you're one of those people that falls 428 00:24:21,080 --> 00:24:23,919 Speaker 1: for the Nigerian scam, I guess, but I feel bad 429 00:24:23,960 --> 00:24:26,000 Speaker 1: for these people if it's all like making fun, But well, 430 00:24:26,080 --> 00:24:29,359 Speaker 1: go listen to the con Artists episode. That will be helpful. 431 00:24:29,440 --> 00:24:32,520 Speaker 1: Maybe that's a companion this one. Sadly, UM. You can 432 00:24:32,560 --> 00:24:36,520 Speaker 1: also if you are loaded, or if you really don't 433 00:24:36,560 --> 00:24:41,240 Speaker 1: like your family, you can leave UM money, land, goods, 434 00:24:41,280 --> 00:24:45,199 Speaker 1: your oldsmobile, all those things to charities still take them. 435 00:24:45,240 --> 00:24:50,840 Speaker 1: Maybe I'll will the my squatted land with that too. 436 00:24:52,760 --> 00:24:55,479 Speaker 1: That would be very nice. Maybe like thanks for this 437 00:24:55,560 --> 00:24:57,480 Speaker 1: thing that we can do nothing we have to mow 438 00:24:57,560 --> 00:25:01,720 Speaker 1: this and Josh the final way, is UM really popular 439 00:25:01,760 --> 00:25:07,440 Speaker 1: these days donating UM old things that you don't use anymore? UM. 440 00:25:07,520 --> 00:25:09,760 Speaker 1: And you know, we've been doing this forever in terms 441 00:25:09,760 --> 00:25:12,080 Speaker 1: of like furniture and clothing and stuff like that, but 442 00:25:12,119 --> 00:25:15,359 Speaker 1: nowadays things like computers, as we mentioned in a recent 443 00:25:15,520 --> 00:25:18,320 Speaker 1: listener mail or an upcoming listener mail which you're still 444 00:25:18,359 --> 00:25:22,240 Speaker 1: trying to get yeah about UM donating old computers to 445 00:25:22,280 --> 00:25:24,639 Speaker 1: this group in Athens, Georgia. But there are lots of 446 00:25:24,760 --> 00:25:26,960 Speaker 1: organizations that do that now. You can donate your car 447 00:25:28,000 --> 00:25:33,760 Speaker 1: right that off. UM office supplies, building materials, emergency supplies. 448 00:25:33,880 --> 00:25:37,720 Speaker 1: Those are huge obviously when catastrophe hits. Yeah, when the 449 00:25:37,760 --> 00:25:40,480 Speaker 1: poop hits the fan, that's right. And you can write 450 00:25:40,480 --> 00:25:43,120 Speaker 1: most of this stuff off as well. You can't, um, 451 00:25:43,200 --> 00:25:45,000 Speaker 1: you can write off the fair market value of it. 452 00:25:45,520 --> 00:25:48,600 Speaker 1: And if you go to an auction and you pay 453 00:25:48,720 --> 00:25:53,440 Speaker 1: way more than some something's worth, you can write off 454 00:25:54,280 --> 00:25:56,760 Speaker 1: whatever you paid over and above the fair market value 455 00:25:56,760 --> 00:26:02,000 Speaker 1: of that thing. The sucker fee, I the philanthropic fee. Well, 456 00:26:02,040 --> 00:26:04,240 Speaker 1: that's nice that they give it back, like, well, you 457 00:26:04,320 --> 00:26:06,159 Speaker 1: were sorted an idiot for paying that much money, But 458 00:26:07,240 --> 00:26:08,720 Speaker 1: go give it away and we'll at least let you 459 00:26:08,720 --> 00:26:11,600 Speaker 1: write it off. Okay, you want to talk about tex 460 00:26:11,640 --> 00:26:16,560 Speaker 1: stuff now? No, Well we're about to. So, uh there 461 00:26:16,600 --> 00:26:20,320 Speaker 1: are two kinds of UM. Well, there's there's three kinds 462 00:26:20,480 --> 00:26:23,879 Speaker 1: according to the UM I R S the tax Code, 463 00:26:24,040 --> 00:26:27,880 Speaker 1: the U S tax Code. There's three designations and then 464 00:26:27,920 --> 00:26:30,639 Speaker 1: a few subdis designations which we'll get into to the letter. 465 00:26:30,760 --> 00:26:34,240 Speaker 1: It's the sexiest publication on the planet, UM the tax 466 00:26:34,320 --> 00:26:37,480 Speaker 1: code for a charitable organization, right, fifty shades of green, 467 00:26:37,600 --> 00:26:40,399 Speaker 1: that is what they should call it the most Have 468 00:26:40,520 --> 00:26:43,560 Speaker 1: you read that? Now? Emily didn't? What did she say? 469 00:26:44,400 --> 00:26:46,399 Speaker 1: She likes sweating all the time. Yeah, I mean it was. 470 00:26:46,440 --> 00:26:48,840 Speaker 1: It was pretty racy. That's crazy. She blew through the 471 00:26:48,880 --> 00:26:51,159 Speaker 1: series and you know, a couple of weeks that person 472 00:26:51,280 --> 00:26:53,520 Speaker 1: was earning like a million dollars a day or something 473 00:26:53,640 --> 00:26:57,399 Speaker 1: some crazy amount from that for weeks for writing smut. 474 00:26:57,840 --> 00:27:01,520 Speaker 1: I guess good for her. It was a lady, right, Yeah, 475 00:27:01,760 --> 00:27:07,520 Speaker 1: but she's got a man's name, Frank, no initials. That's 476 00:27:07,600 --> 00:27:13,399 Speaker 1: very mask in my opinion. J. K. Rowling sounds like 477 00:27:13,400 --> 00:27:17,040 Speaker 1: a dude. You think. I never really thought about it. 478 00:27:17,119 --> 00:27:20,000 Speaker 1: And isn't it like P. D. James? It almost sounds 479 00:27:20,000 --> 00:27:25,200 Speaker 1: like pet anyway. UM. The three tax codes, yes, So 480 00:27:25,359 --> 00:27:27,680 Speaker 1: the one that everybody's heard of, it, it's most familiar 481 00:27:27,720 --> 00:27:30,560 Speaker 1: with is the five oh one C three. You know 482 00:27:30,800 --> 00:27:33,120 Speaker 1: you've heard of a five oh one C three corporation. 483 00:27:33,600 --> 00:27:35,600 Speaker 1: Don't pretend like you haven't, Like you're too cool to 484 00:27:35,680 --> 00:27:38,000 Speaker 1: know about. There's the three, four, and five. Your favorite, 485 00:27:38,000 --> 00:27:40,040 Speaker 1: I guess is the three. So the five one three, 486 00:27:40,080 --> 00:27:44,440 Speaker 1: that's the Yeah, that's the that's the money organization. That's 487 00:27:44,480 --> 00:27:46,720 Speaker 1: the one that's like, UM, it covers that. Let's see 488 00:27:46,920 --> 00:27:50,840 Speaker 1: prevention of cruelty to children or animals, those kind of organizations, 489 00:27:51,320 --> 00:27:57,320 Speaker 1: UM educational UM, charities straight up charity charities that helped 490 00:27:57,320 --> 00:28:02,760 Speaker 1: like the poor and the needy, religious charities, scientific organizations 491 00:28:03,000 --> 00:28:08,480 Speaker 1: yea yeah, um favorite ones that support national or international 492 00:28:08,560 --> 00:28:11,720 Speaker 1: amateur sports, which is pretty sweet. Yeah, you can give 493 00:28:11,720 --> 00:28:15,120 Speaker 1: like to the USK team, right if Don King's involved, though, 494 00:28:15,320 --> 00:28:17,800 Speaker 1: do not you don't look for a text deduction at 495 00:28:17,800 --> 00:28:23,120 Speaker 1: the organization. Um. And then uh testing related to public safety, 496 00:28:23,200 --> 00:28:27,120 Speaker 1: which I was trying to figure out what that would be. Yeah, 497 00:28:27,240 --> 00:28:31,000 Speaker 1: I don't know. Maybe an organization that goes around sitting 498 00:28:31,000 --> 00:28:35,040 Speaker 1: off incendiary devices and fallout shelters to see if they 499 00:28:35,080 --> 00:28:38,000 Speaker 1: hold up. Yeah, I'm not sure. I was gonna say, 500 00:28:38,040 --> 00:28:39,800 Speaker 1: like auto safety, but it seems like that would be 501 00:28:39,880 --> 00:28:47,000 Speaker 1: the auto companies privately doing that. There are like the um, yeah, 502 00:28:47,040 --> 00:28:50,640 Speaker 1: there are, That's what it is. So anyway, um, all 503 00:28:50,680 --> 00:28:53,040 Speaker 1: of those except for the public safety one you can 504 00:28:53,080 --> 00:28:58,640 Speaker 1: write off like without thinking twice without prejudice. Yeah yeah right, Um, 505 00:28:58,960 --> 00:29:04,720 Speaker 1: unless these any that that is a not for profit 506 00:29:04,800 --> 00:29:09,520 Speaker 1: or nonprofit corporation that's overseas, yes, and it means that 507 00:29:09,560 --> 00:29:13,000 Speaker 1: they're based overseas, uh not necessarily that they do most 508 00:29:13,000 --> 00:29:16,440 Speaker 1: of their work overseas, right, that's where they're they're incorporated 509 00:29:16,560 --> 00:29:19,600 Speaker 1: is overseas. Yeah, because COED for instance, that's why I 510 00:29:19,600 --> 00:29:21,640 Speaker 1: mentioned it. They are based out of Cincinnati, even though 511 00:29:21,680 --> 00:29:23,880 Speaker 1: the work they do is usually in Guatemala. Right, that's 512 00:29:23,880 --> 00:29:27,000 Speaker 1: an excellent point. Yeah. Um, so that's the five oh 513 00:29:27,000 --> 00:29:31,080 Speaker 1: one C three. You've got public charity, UM, you've got 514 00:29:31,120 --> 00:29:34,120 Speaker 1: the private foundation. And a private foundation is UM. It 515 00:29:34,160 --> 00:29:38,920 Speaker 1: gets its income from investments, endowments, and then it's basically 516 00:29:38,920 --> 00:29:42,000 Speaker 1: a charity for other charities yea. Then grants that to 517 00:29:42,640 --> 00:29:44,720 Speaker 1: whoever they see fit, right. And that's a good one 518 00:29:44,760 --> 00:29:48,040 Speaker 1: to invest in UM because they are they usually know 519 00:29:48,120 --> 00:29:51,480 Speaker 1: exactly what they're doing more than you you know, and 520 00:29:51,520 --> 00:29:54,360 Speaker 1: they're like their whole their work is charity, so like 521 00:29:54,400 --> 00:29:56,760 Speaker 1: they're looking for up and coming ones once they're doing 522 00:29:56,760 --> 00:29:59,880 Speaker 1: really great work, that kind of stuff. What's well Mann 523 00:30:00,560 --> 00:30:02,400 Speaker 1: that kind of thing. Uh. And then you have a 524 00:30:02,440 --> 00:30:07,400 Speaker 1: private operating foundation, right, Yeah, and they donate to directly 525 00:30:07,440 --> 00:30:11,560 Speaker 1: to the causes UM instead of granting uh grants to 526 00:30:11,600 --> 00:30:15,240 Speaker 1: other charities. The private foundation. If you give to one 527 00:30:15,240 --> 00:30:18,280 Speaker 1: of those, you may not necessarily be able to deduct it, 528 00:30:18,680 --> 00:30:22,920 Speaker 1: but a public charity or a private operating foundation, most 529 00:30:22,960 --> 00:30:25,400 Speaker 1: of the time you'll you'll get the full deduction. I 530 00:30:25,480 --> 00:30:28,920 Speaker 1: think that's up to about fifty of your adjusted gross income. 531 00:30:29,280 --> 00:30:34,120 Speaker 1: So if you make fifty dollars and you donate five thousand, 532 00:30:34,800 --> 00:30:38,080 Speaker 1: you can write that off. It'll take that right away. 533 00:30:38,680 --> 00:30:42,400 Speaker 1: That's that's a pretty good tax strategy. It is incorporations 534 00:30:42,440 --> 00:30:47,240 Speaker 1: can um are allowed to deduct all contributions up to 535 00:30:47,520 --> 00:30:51,880 Speaker 1: usually about ten percent of their taxable income, which that's 536 00:30:52,080 --> 00:30:53,880 Speaker 1: where it ends. But I mean, think about it. What 537 00:30:53,960 --> 00:30:57,640 Speaker 1: about corporations that like have zero taxable income, like because 538 00:30:57,640 --> 00:31:01,880 Speaker 1: of their fancy accounting like to they donate at all? 539 00:31:01,920 --> 00:31:05,120 Speaker 1: I don't know. I have a big question about that. 540 00:31:05,200 --> 00:31:07,320 Speaker 1: And that was quite cynical there, and I don't like cynicism. 541 00:31:07,320 --> 00:31:09,440 Speaker 1: I said, that's probably where they stopped donating, is when 542 00:31:09,440 --> 00:31:14,000 Speaker 1: they reach that threshold. Not necessarily true, but you know, 543 00:31:15,120 --> 00:31:19,800 Speaker 1: maybe this well, you know, the the text the deductible 544 00:31:20,240 --> 00:31:24,440 Speaker 1: charitable contributions as it stands now is kind of under 545 00:31:24,440 --> 00:31:28,720 Speaker 1: threat actually because the Bush tax cuts are going to expire. 546 00:31:28,920 --> 00:31:34,239 Speaker 1: Possibly if the Bush tax cuts expire, then um for 547 00:31:34,360 --> 00:31:39,080 Speaker 1: the for those highest income brackets, they'll lose about eight 548 00:31:39,280 --> 00:31:44,920 Speaker 1: percent of their UM deduction abilities, which I would think 549 00:31:44,960 --> 00:31:48,400 Speaker 1: would show a pretty steep drop in charitable giving in 550 00:31:48,440 --> 00:31:51,080 Speaker 1: that tax bracket. Yeah, and even though it's only five 551 00:31:51,560 --> 00:31:54,440 Speaker 1: that's you know, still how much was it? Like fourteen 552 00:31:54,440 --> 00:31:58,080 Speaker 1: billion dollars? And then Obama has a proposal that I 553 00:31:58,120 --> 00:31:59,920 Speaker 1: don't know if it's going anywhere or not to basically 554 00:32:00,120 --> 00:32:03,880 Speaker 1: like set of your adjusted gross income is the maximum 555 00:32:03,920 --> 00:32:08,360 Speaker 1: you can deduct for higher income tax brackets. Yeah. I 556 00:32:08,360 --> 00:32:10,520 Speaker 1: don't know if it will go anywhere though, but we 557 00:32:10,600 --> 00:32:15,400 Speaker 1: may see charities like really getting hurt in the future. 558 00:32:15,760 --> 00:32:21,080 Speaker 1: I'm so ambivalent right now, you're not You're angry behind 559 00:32:21,120 --> 00:32:24,360 Speaker 1: the ambivalence. What about the C four Oh boy, the 560 00:32:24,360 --> 00:32:30,240 Speaker 1: C four that that covers um that covers organizations that 561 00:32:30,360 --> 00:32:35,880 Speaker 1: lobby on behalf of specific causes like social welfare and 562 00:32:35,880 --> 00:32:39,600 Speaker 1: stuff like that. Uh yeah, so remember, um, there was 563 00:32:39,640 --> 00:32:42,960 Speaker 1: a big how about but I can't remember. I couldn't 564 00:32:43,000 --> 00:32:44,800 Speaker 1: remember it before and I can't remember it now. It 565 00:32:44,840 --> 00:32:47,200 Speaker 1: was a lobbying group that had five oh one C 566 00:32:47,400 --> 00:32:53,520 Speaker 1: three status. No, but yeah, but it was they were 567 00:32:53,600 --> 00:32:57,320 Speaker 1: lobbying from behalf of social values. Remember McDonald's got called 568 00:32:57,320 --> 00:33:00,200 Speaker 1: out and like left, like all these huge corporation is 569 00:33:00,240 --> 00:33:02,720 Speaker 1: like left this lobbying group. It was like a chamber 570 00:33:02,760 --> 00:33:06,560 Speaker 1: of commerce, arm and somehow they have five three status. 571 00:33:06,640 --> 00:33:08,640 Speaker 1: It was a big call for them to to go 572 00:33:08,720 --> 00:33:12,800 Speaker 1: back or to be forced into which would mean a 573 00:33:12,840 --> 00:33:16,360 Speaker 1: lot they'd have to pay taxes. That also will include 574 00:33:16,400 --> 00:33:19,560 Speaker 1: volunteer fire departments, which I thought was interesting, and civic 575 00:33:19,640 --> 00:33:24,840 Speaker 1: organizations and they are not deductible at charitable donations UM 576 00:33:24,920 --> 00:33:29,240 Speaker 1: to the C fours except for volunteer fire departments and 577 00:33:29,480 --> 00:33:32,800 Speaker 1: UM Veterans Organization. Yeah, exactly, So I guess you up 578 00:33:32,840 --> 00:33:36,200 Speaker 1: to the v A or the vf W v W 579 00:33:36,560 --> 00:33:40,440 Speaker 1: or the American Legion, maybe even the not the French 580 00:33:40,480 --> 00:33:43,840 Speaker 1: Foreign Legion though they're overseas. That's right. The C six, Josh, 581 00:33:44,040 --> 00:33:47,120 Speaker 1: the C six, that's that's actually I guess it should 582 00:33:47,120 --> 00:33:50,240 Speaker 1: be that that UM organ that lobbying group shouldn't be 583 00:33:50,280 --> 00:33:52,080 Speaker 1: a five on three. It should be a C six 584 00:33:52,160 --> 00:33:59,040 Speaker 1: because this covers trade associations and boards, chambers of commerce, UM, 585 00:33:59,320 --> 00:34:02,960 Speaker 1: real estate. Yeah, we can't forget those, and you can't 586 00:34:02,960 --> 00:34:07,160 Speaker 1: deduct any or any gifts to those as well. Basically 587 00:34:07,200 --> 00:34:09,200 Speaker 1: just five one three. And you want to make sure 588 00:34:09,200 --> 00:34:12,280 Speaker 1: it's not a private foundation and that's a private operating 589 00:34:12,320 --> 00:34:15,319 Speaker 1: and that's if you're donating money. But we mentioned you 590 00:34:15,320 --> 00:34:19,399 Speaker 1: can donate your time is a volunteer, which I think 591 00:34:19,440 --> 00:34:21,520 Speaker 1: it's kind of a neat way to go about it 592 00:34:21,600 --> 00:34:25,279 Speaker 1: if you're into like, you know, grassroots, hitting the ground, 593 00:34:25,360 --> 00:34:29,479 Speaker 1: getting your hands dirty. Um. They have figured out that 594 00:34:30,120 --> 00:34:32,279 Speaker 1: actually this article is I don't know, I'm sorry, I 595 00:34:32,320 --> 00:34:34,400 Speaker 1: have a new staff for that. They have figured out 596 00:34:34,480 --> 00:34:37,400 Speaker 1: that it is. UH. An estimated dollar value of volunteering 597 00:34:37,440 --> 00:34:43,120 Speaker 1: time is twenty eight an hour in two thousand nine. Wow, 598 00:34:43,200 --> 00:34:45,640 Speaker 1: that's great. And so in two thousand nine, the volunteer 599 00:34:45,680 --> 00:34:49,719 Speaker 1: time totaled about hundred and sixty nine billion dollars. I 600 00:34:49,800 --> 00:34:52,080 Speaker 1: wonder how much of that has wasted though, because there 601 00:34:52,080 --> 00:34:57,440 Speaker 1: in this article they cite ups Survey UPS Foundation. UM. 602 00:34:57,480 --> 00:35:01,319 Speaker 1: That was taken its back, but at the time they 603 00:35:01,320 --> 00:35:05,879 Speaker 1: found that like volunteers said that they stopped volunteering because 604 00:35:05,920 --> 00:35:09,000 Speaker 1: they felt that their time was wasted volunteering. Yeah. I 605 00:35:09,000 --> 00:35:12,200 Speaker 1: have had experience like that, UM, and I get it, 606 00:35:12,239 --> 00:35:13,719 Speaker 1: you know, because if you don't have a lot of time, 607 00:35:13,760 --> 00:35:16,040 Speaker 1: you're like, I want to give my time, you want 608 00:35:16,040 --> 00:35:18,600 Speaker 1: to have it be used. And I don't want to 609 00:35:18,640 --> 00:35:21,160 Speaker 1: call out who this was, but it was a group 610 00:35:21,200 --> 00:35:25,040 Speaker 1: in town. Volunteer showed up and like they didn't know 611 00:35:25,080 --> 00:35:26,920 Speaker 1: what to do with me, and I did it a 612 00:35:26,920 --> 00:35:28,279 Speaker 1: couple of times. They didn't know what to do with 613 00:35:28,280 --> 00:35:30,680 Speaker 1: me until Vince I was like, you know, I'm not 614 00:35:30,719 --> 00:35:33,560 Speaker 1: going to come back like sit around here. I'm gonna 615 00:35:33,600 --> 00:35:35,400 Speaker 1: go find somewhere else or maybe you should get your 616 00:35:35,440 --> 00:35:38,240 Speaker 1: act together a little bit more. Um. But it's tough, 617 00:35:38,239 --> 00:35:40,399 Speaker 1: you know. I mean, it's easy to criticize, it's tough 618 00:35:40,440 --> 00:35:45,560 Speaker 1: to manage volunteers. It's one of the most difficult I 619 00:35:45,600 --> 00:35:47,000 Speaker 1: think it said in the article one of the most 620 00:35:47,000 --> 00:35:51,480 Speaker 1: difficult parts of running one a nonprofit is is managing 621 00:35:51,560 --> 00:35:54,279 Speaker 1: and maintaining your volunteers because they Walton brand new and 622 00:35:54,280 --> 00:35:56,040 Speaker 1: I'm sure they want to be the one doling out soup, 623 00:35:56,719 --> 00:35:59,000 Speaker 1: you know, where we really need someone to lift those 624 00:35:59,040 --> 00:36:03,360 Speaker 1: boxes in the back um, which is unglamorous. It's unglamorous, 625 00:36:03,400 --> 00:36:04,640 Speaker 1: and so it's probably not the easiest thing in the 626 00:36:04,680 --> 00:36:07,279 Speaker 1: world to manage expectations and what they're supposed to be 627 00:36:07,360 --> 00:36:12,160 Speaker 1: doing and training and the like. You know, I got 628 00:36:12,200 --> 00:36:18,040 Speaker 1: some stats. Sixty of households give the charity UM average 629 00:36:18,040 --> 00:36:24,360 Speaker 1: household contribution two thousand, two hundred and thirteen UM. Majority 630 00:36:24,400 --> 00:36:29,640 Speaker 1: of charitable dollars went to religion, education percent, grant making, 631 00:36:29,719 --> 00:36:34,359 Speaker 1: nine percent, human services. It just says percent. They're like 632 00:36:34,480 --> 00:36:37,880 Speaker 1: making electricity with bodies. Yeah, I think that's exactly what 633 00:36:37,920 --> 00:36:41,720 Speaker 1: it is. Um. Ninety eight percent of high net households 634 00:36:41,920 --> 00:36:45,960 Speaker 1: give the charity, which is great, um and beneficial for 635 00:36:46,000 --> 00:36:49,040 Speaker 1: your tax status. I'm not saying it's why, but you 636 00:36:49,080 --> 00:36:52,239 Speaker 1: know it's good that that's there at least. And then 637 00:36:52,520 --> 00:36:57,680 Speaker 1: um six percent of people volunteer and those and religion 638 00:36:57,760 --> 00:37:03,120 Speaker 1: leads away again at which leads us to did you 639 00:37:03,120 --> 00:37:06,040 Speaker 1: read the article? I skimmed it. Yeah, let's hear what 640 00:37:06,120 --> 00:37:10,160 Speaker 1: you got to say. Well, Mitt Romney was criticized recently 641 00:37:10,200 --> 00:37:13,160 Speaker 1: because and this is criticism by Bill Maher, so take 642 00:37:13,200 --> 00:37:17,080 Speaker 1: it with a grain of salt. Um. But he counted 643 00:37:17,120 --> 00:37:22,080 Speaker 1: sixteen point five percent of his income his charitable donations, uh, 644 00:37:22,280 --> 00:37:25,000 Speaker 1: a lot of which went to the Mormon Church. So 645 00:37:25,120 --> 00:37:28,879 Speaker 1: that brings up an important thing tithing. If you are 646 00:37:29,080 --> 00:37:31,879 Speaker 1: a believer of the Bible, you were supposed to tie 647 00:37:32,760 --> 00:37:35,800 Speaker 1: off the top. It's off the top, is it? According 648 00:37:35,840 --> 00:37:39,920 Speaker 1: to the Reverend Wealth Joy? Okay, and UM, you can 649 00:37:39,960 --> 00:37:41,759 Speaker 1: write that off, which I didn't under I didn't know 650 00:37:41,800 --> 00:37:45,959 Speaker 1: that until today. I didn't either. Um, so Bill Maher 651 00:37:46,160 --> 00:37:50,239 Speaker 1: says that, you know, some churches and like these well 652 00:37:50,280 --> 00:37:54,319 Speaker 1: to do organizations like symphony orchestras, colleges and universities with 653 00:37:54,400 --> 00:37:57,680 Speaker 1: large endowments shouldn't count as charities any longer. So he's 654 00:37:57,719 --> 00:38:02,520 Speaker 1: kind of slinging some harsh words there. Um, but that 655 00:38:02,600 --> 00:38:04,760 Speaker 1: sort of says that the only people who can benefit 656 00:38:04,800 --> 00:38:07,560 Speaker 1: from charity or the poor. And that's just not necessarily 657 00:38:07,600 --> 00:38:10,520 Speaker 1: the case, because then you've got like hospitals and libraries 658 00:38:10,520 --> 00:38:15,239 Speaker 1: and museums and these other things. Um, animal organizations. Uh, 659 00:38:15,560 --> 00:38:17,840 Speaker 1: that would be thrown out under the Bill Maar model. 660 00:38:18,680 --> 00:38:21,719 Speaker 1: You know. Well, I mean all you need to do 661 00:38:21,800 --> 00:38:24,480 Speaker 1: is inject a little capitalism, like make the Humane Society 662 00:38:24,480 --> 00:38:29,000 Speaker 1: in the SPC a really kind of compete for money. Yeah, 663 00:38:29,400 --> 00:38:33,880 Speaker 1: the one left standing is the one that gets to survive. Um. 664 00:38:33,920 --> 00:38:36,200 Speaker 1: And uh, they did a study on church budgets and 665 00:38:36,200 --> 00:38:40,040 Speaker 1: two thousands, so this is not super updated. UM and 666 00:38:40,440 --> 00:38:43,279 Speaker 1: Christian Today did this and found that an average church 667 00:38:43,360 --> 00:38:51,359 Speaker 1: budget is about two dollars went to staff compensation for facilities, 668 00:38:51,719 --> 00:38:56,719 Speaker 1: sixtent for missions, nine percent for church programs, six for 669 00:38:56,800 --> 00:39:00,759 Speaker 1: admin and supplies, three percent for denominational fees, and three 670 00:39:01,200 --> 00:39:05,680 Speaker 1: for other handling handling fees, and uh, one of the 671 00:39:05,719 --> 00:39:08,200 Speaker 1: things that how much was that? How much of that 672 00:39:08,440 --> 00:39:12,359 Speaker 1: we really want to charity? Well, that's the thing though, 673 00:39:12,400 --> 00:39:15,040 Speaker 1: the church itself qualifies as a charity with its non 674 00:39:15,040 --> 00:39:19,320 Speaker 1: exempt status. So like I guess the six percent for 675 00:39:19,400 --> 00:39:22,839 Speaker 1: mission work would be charity, nine percent for church programs, 676 00:39:22,880 --> 00:39:25,279 Speaker 1: A lot of that could be charity. But one of 677 00:39:25,280 --> 00:39:28,800 Speaker 1: the issues is that, but is that also like the 678 00:39:28,880 --> 00:39:31,400 Speaker 1: music program. Well, that's what I'm saying. That's one of 679 00:39:31,440 --> 00:39:36,560 Speaker 1: the issues with with considering churches charities. And this is 680 00:39:36,600 --> 00:39:40,279 Speaker 1: written by a Christian organization saying that churches need to 681 00:39:40,280 --> 00:39:44,520 Speaker 1: get better about um connecting the giving to the outcome 682 00:39:45,280 --> 00:39:47,960 Speaker 1: because people like knowing like the literal outcome of where 683 00:39:47,960 --> 00:39:50,759 Speaker 1: I'm giving my money, whereas churches apparently are not very 684 00:39:50,760 --> 00:39:53,000 Speaker 1: good at tying that together. And it's really just like 685 00:39:53,280 --> 00:39:56,319 Speaker 1: it's your tithe it's just for everything, instead of it's 686 00:39:56,360 --> 00:39:59,440 Speaker 1: for this program, in this program, it's used in this way. 687 00:40:00,120 --> 00:40:03,200 Speaker 1: So you know the solution to that, what's that? Charging 688 00:40:03,239 --> 00:40:08,560 Speaker 1: admission to church? If you want to know more about 689 00:40:08,600 --> 00:40:12,000 Speaker 1: philanthropy or philanthropy, if you say things like a weirdo, 690 00:40:12,239 --> 00:40:14,319 Speaker 1: you can type that word into the search bar at 691 00:40:14,360 --> 00:40:17,400 Speaker 1: how stuff Works dot com. P h I L A 692 00:40:17,640 --> 00:40:21,480 Speaker 1: N T h R O p y philanthropy uh and 693 00:40:21,560 --> 00:40:23,440 Speaker 1: I say a handy search bar or search bar or 694 00:40:23,440 --> 00:40:25,600 Speaker 1: something like that, which means it's time for listener mayo 695 00:40:27,719 --> 00:40:30,879 Speaker 1: uh and live listener mail today. Oh goodness, since we're 696 00:40:31,000 --> 00:40:35,680 Speaker 1: covering philanthropy, we're gonna support co ED because we haven't 697 00:40:35,680 --> 00:40:38,000 Speaker 1: done it in a while. Okay, awesome, you want to 698 00:40:38,040 --> 00:40:40,880 Speaker 1: tell them about the organization, Josh. For those of you 699 00:40:40,920 --> 00:40:43,479 Speaker 1: who don't know, you can go back into the deep 700 00:40:43,640 --> 00:40:47,640 Speaker 1: archives and find our Guatemala Adventure Part one and two. 701 00:40:47,920 --> 00:40:49,799 Speaker 1: It's the I think one and only time you can 702 00:40:49,840 --> 00:40:53,319 Speaker 1: clearly here Jerry speaking. But we went to Guatemala to 703 00:40:53,440 --> 00:40:56,480 Speaker 1: see firsthand with the Cooperative for Education does. And what 704 00:40:56,560 --> 00:40:59,720 Speaker 1: they do is they take money UM from different donors, 705 00:41:00,040 --> 00:41:03,000 Speaker 1: basically pile it all together and buy enough books for 706 00:41:03,040 --> 00:41:06,840 Speaker 1: a class in Guatemala. Then those kids pay rent on 707 00:41:06,880 --> 00:41:09,040 Speaker 1: those books something that's affordable. It's like two bucks a 708 00:41:09,120 --> 00:41:13,040 Speaker 1: year or something like that UM that the average Guatemala 709 00:41:13,120 --> 00:41:16,279 Speaker 1: and family can afford fairly easily, and that goes into 710 00:41:16,400 --> 00:41:19,160 Speaker 1: pool helping nes grow. And then at the end of 711 00:41:19,200 --> 00:41:20,640 Speaker 1: that year or a couple of years or a few 712 00:41:20,719 --> 00:41:23,880 Speaker 1: years when the books are worn out, that that school 713 00:41:24,080 --> 00:41:26,160 Speaker 1: has the money to replace them. So it's a self 714 00:41:26,200 --> 00:41:30,439 Speaker 1: sustaining model. Um And basically you can help a kid 715 00:41:30,719 --> 00:41:33,719 Speaker 1: get out of poverty by getting an education where otherwise 716 00:41:34,120 --> 00:41:36,800 Speaker 1: they would be working in the field and making tortillas, 717 00:41:36,840 --> 00:41:40,160 Speaker 1: which we found out they do in addition to going 718 00:41:40,200 --> 00:41:43,799 Speaker 1: to school normally. So they do great work. We've seen 719 00:41:43,800 --> 00:41:47,399 Speaker 1: it firsthand. We stand very firmly behind this this organization. Yeah, 720 00:41:47,400 --> 00:41:50,040 Speaker 1: and not only they have a book program, any computer 721 00:41:50,120 --> 00:41:52,120 Speaker 1: lab program, so some of your money can go to 722 00:41:52,160 --> 00:41:55,719 Speaker 1: computer labs and and getting these kids not only computers, 723 00:41:55,760 --> 00:41:59,239 Speaker 1: but training, which it's the same model. It's just what 724 00:41:59,400 --> 00:42:02,839 Speaker 1: rather than like set a book, that's like a computer lab. Yeah, yeah, 725 00:42:03,040 --> 00:42:05,399 Speaker 1: pretty cool. Yeah, I mean stuff these kids have never 726 00:42:05,440 --> 00:42:07,600 Speaker 1: seen before, and they're and they're learning how to use computers, 727 00:42:07,640 --> 00:42:10,759 Speaker 1: getting better jobs. It's good stuff. Yeah. All right, So 728 00:42:10,800 --> 00:42:14,600 Speaker 1: you can visit uh Cooperative for Education dot org and 729 00:42:14,600 --> 00:42:16,800 Speaker 1: that's different from their old website. So go to Cooperative 730 00:42:16,800 --> 00:42:19,000 Speaker 1: for Education dot org and you can there's a donate 731 00:42:19,040 --> 00:42:22,120 Speaker 1: now button at the top right of the screen, or 732 00:42:22,160 --> 00:42:24,080 Speaker 1: if you want to go down there, you can go 733 00:42:24,080 --> 00:42:27,080 Speaker 1: on one of the tours. Tours, we've had some listeners 734 00:42:27,120 --> 00:42:31,600 Speaker 1: go yeah, um, Guatemala got under Jerry's skin. She she 735 00:42:31,719 --> 00:42:35,600 Speaker 1: became very very much involved with the co ED after 736 00:42:35,640 --> 00:42:38,080 Speaker 1: that first tripman returned several times and when she went, 737 00:42:38,160 --> 00:42:40,200 Speaker 1: she would go and there'd be stuff you should know, 738 00:42:40,239 --> 00:42:42,960 Speaker 1: listeners that went because they listened to the Guatemalan adventures. 739 00:42:43,040 --> 00:42:47,000 Speaker 1: That's right, um, and they for you can go February 740 00:42:47,080 --> 00:42:50,560 Speaker 1: nine or August six through eleventh to the Land of 741 00:42:50,560 --> 00:42:55,600 Speaker 1: Eternal Spring and you will not regret it. And again, 742 00:42:55,800 --> 00:43:00,799 Speaker 1: what's the website again? Cooperative for Education dot org. Okay, cool? Yeah, 743 00:43:01,200 --> 00:43:04,040 Speaker 1: go give your money is well spent there check out 744 00:43:04,080 --> 00:43:10,600 Speaker 1: their form. Yeah, or volunteer or help somebody, help help 745 00:43:10,640 --> 00:43:15,200 Speaker 1: a panhandler out who knows. Just be philanthropic not misanthropic. Right, 746 00:43:15,360 --> 00:43:17,520 Speaker 1: we need a T shirt that says that, I bet 747 00:43:17,520 --> 00:43:20,960 Speaker 1: there's one out there and hey chuck. Yeah, let's just 748 00:43:21,000 --> 00:43:24,200 Speaker 1: take this moment to wish everyone a happy Thanksgiving. Seriously, 749 00:43:24,840 --> 00:43:27,200 Speaker 1: I don't know if you have traditions like sitting around 750 00:43:27,239 --> 00:43:30,400 Speaker 1: the table and like telling each other what you're thankful for. 751 00:43:31,719 --> 00:43:35,080 Speaker 1: I like doing that. Maybe you don't even have family, yeah, 752 00:43:35,200 --> 00:43:37,879 Speaker 1: maybe you have no one in the world. Surely there's 753 00:43:37,920 --> 00:43:41,839 Speaker 1: something for you to be thankful for that. Yeah, dig 754 00:43:42,440 --> 00:43:50,520 Speaker 1: digne people, I'm thankful for that wall in that carpet square. Deep, 755 00:43:50,840 --> 00:43:56,600 Speaker 1: that's awful. Deep. Are you ready so after Chuck's speel 756 00:43:57,440 --> 00:44:01,240 Speaker 1: Uh yeah, whatever your tradition is, we hope you're safe 757 00:44:01,360 --> 00:44:05,480 Speaker 1: and toasty and happy and you have the warmth of 758 00:44:05,560 --> 00:44:10,840 Speaker 1: the Great Turkey in your spirit. That's good. Thanks. We 759 00:44:10,840 --> 00:44:13,399 Speaker 1: should make that our sign off every year for Thanksgiving. Well, 760 00:44:13,440 --> 00:44:16,120 Speaker 1: maybe we will, the great, great Warmth of the Turkey spirit, 761 00:44:16,719 --> 00:44:19,480 Speaker 1: the great the warmth of the Great Turkey in your 762 00:44:19,560 --> 00:44:22,520 Speaker 1: spirit or something like that. It could use a little 763 00:44:22,520 --> 00:44:25,960 Speaker 1: tinkering before we trade market. Agreed, let's get to work 764 00:44:25,960 --> 00:44:31,080 Speaker 1: on that. Okay. Well until then, Happy Thanksgiving everyone, be safe. Uh. 765 00:44:31,200 --> 00:44:32,520 Speaker 1: If you want to get in touch with us to 766 00:44:32,560 --> 00:44:36,000 Speaker 1: wish us Thanksgiving tidings, even if you're from Canada, which 767 00:44:36,440 --> 00:44:41,919 Speaker 1: celebrates Thanksgiving us some preposterously early time, right, We'll still 768 00:44:41,960 --> 00:44:45,319 Speaker 1: accept your tweets at s Y s K podcast, say 769 00:44:45,360 --> 00:44:48,359 Speaker 1: hi on Facebook, Facebook dot com, slash stuff you Should Know, 770 00:44:48,680 --> 00:44:51,920 Speaker 1: and as always, you can send us in electronic mail 771 00:44:52,320 --> 00:45:03,799 Speaker 1: to Stuff podcast at Discovery dot com for more on 772 00:45:03,840 --> 00:45:06,560 Speaker 1: this and thousands of other topics, visit how stuff Works 773 00:45:06,600 --> 00:45:10,400 Speaker 1: dot com, m