|
Kiva anyone? (pg. 3)
|
View this Thread in Original format
| Silky Johnson |
| I'm pretty sure you've misinterpreted what "running the operation" means and who benefits. |
|
|
| EddieZilker |
| quote: | Originally posted by Penalba
The point of this is to do something good right? But the organizers of this project are profiting greatly from your good deed.
Its pretty much the same as giving to charity , and the charity pocketing 50% of what you donate.
edit: to be more accurate - pocketing 36% of what you donate. |
It's a 501(c)3 non-profit corporation. The IRS has to be certain that they're not making any profits for them to keep that status. |
|
|
| Penalba |
| quote: | Originally posted by EddieZilker
It's a 501(c)3 non-profit corporation. The IRS has to be certain that they're not making any profits for them to keep that status. |
Don't be so naive. So many "charities" claim to be non-profit. It is so easy to move money around in 3rd world countries and manipulate accounts.
I browsed the website. Nowhere do they clearly indicate how much interest they charge. There's obviously a reason for that. |
|
|
| Penalba |
| quote: | Originally posted by Miss Pie
I'm pretty sure you've misinterpreted what "running the operation" means and who benefits. |
Yes, because if they were making a profit, they would put that on the front page in large font. |
|
|
| Penalba |
| quote: | Originally posted by Miss Pie
I'm pretty sure you've misinterpreted what "running the operation" means and who benefits. |
Also there are many ways you can interpret "running the operation" , fat salary pay checks to owners could be considered "running the operation" as they could argue that they too need to make a "living". |
|
|
| Silky Johnson |
| Does it suck to be so bitter and cynical? Lol. |
|
|
| EddieZilker |
| quote: | Originally posted by Penalba
Don't be so naive. So many "charities" claim to be non-profit. It is so easy to move money around in 3rd world countries and manipulate accounts.
I browsed the website. Nowhere do they clearly indicate how much interest they charge. There's obviously a reason for that. |
Have you ever worked for a 501(c)3 in the Accounting Department during a yearly audit?
EDIT: :toothless
Other than that, I'm still right! |
|
|
| Penalba |
| quote: | Originally posted by Miss Pie
Does it suck to be so bitter and cynical? Lol. |
Yes, I am very cynical, which is the main reason I posted. To warn those who are thinking of donating. Now that you've read my warning, its up to you to decide of you trust this organization or not. I'm not looking for a debate, I just don't want people to support an organization that I believe are thieves. |
|
|
| Silky Johnson |
| Oh well, Penalba hath spoken. All be warned! |
|
|
| Penalba |
| quote: | Originally posted by Miss Pie
Oh well, Penalba hath spoken. All be warned! |
Ok? There is no need for sarcasm? Don't take this personally? |
|
|
| Silky Johnson |
| I really just don't like your attitude. So you. :mad: |
|
|
| Penalba |
| quote: | Originally posted by Miss Pie
I really just don't like your attitude. So you. :mad: |
We can't all live in La La land... Reality bites, but the world we live in is not all rainbows and unicorns. Some people are out to make money and you shouldn't trust any website you come across. |
|
|
|
|
