I know, I promised not to write any more political columns, but this is about economics…sort of anyway. I am writing about a foundation. A foundation which has been established to benefit charity, as all foundations are supposed to do and operate. A foundation usually has a tax exempt number, which will allow the contributors to deduct contributions from their taxes. OK? The Ford Foundation as an example, was founded by Henry and Edsel Ford, and their web site lists all the grants they give each year. Very impressive to say the least. I object to the left wing causes they contribute to, but it’s the money and interest they have been hired to distribute, so there is nothing I can do about it.
Here’s another one, whose revenue in 2014 was $177,804,612. It was founded in 1997. It has a very impressive web site, as do all of the charitable foundations. This foundation granted $5,160,385 to charity in 2014, which was less than 3% of its revenue. This foundation had expenses of $91,281,145. These expenses included $34,838,106 in salaries, fund raising fees of $850,803, travel of $8,000,000, meetings of $12,000,000. These statistics can be found at The National Center for Charitable Statistics web site, where figures for all such foundations can be found. http://990finder.foundationcenter.org//990results.aspx?990
At the end of the year 2014, this foundation had increased its net worth by $85,171,891, giving it a value of $332,471,349. This foundation is relatively new, being founded a mere 20 years ago, as opposed to the Ford, Rockefeller, Carnegie, etc. foundations, which were founded over a hundred years ago. Their salaries and other expenses are microscopic compared to the one above, and their grants are far more than 3% of their assets and donations. The foundation with the teensy grants and huge expenses, of course, is The Clinton Foundation. $12 million for meetings? $8 million for transportation? “Other expenses” of over $50 million? Did all the ‘contributions’ come from Bill and Hillary’s expensive speeches given to those who expected political help? You decide.
Meantime, various columnists and prognosticators in the Journal say that the stock market is way over-priced and due for a correction worse than 2008. I have no idea, as I don’t have any stock, and I believe that those who make a lot of money by giving these predictions are fakers, as the fake news broadcast by NBC, etc. They base their predictions on past happenings, but past happenings do not often include hurricanes, earthquakes, a mass shooting, as in Las Vegas, wars, international disturbances, overthrows, and lots of things no one can predict. The stock market is up almost 24% since Trump won, and that is comforting to those who own stocks, I am certain. The current downturn in metals is a great opportunity for purchases, for those who have the correct modus operendi of, “Buy Low, Sell High.” We’re here if you need us! – Don Stott . 1-888-786-8822. Here in Colorado, it has been 83 degrees the past few days, with of course blue skies and low humidity. Trees are still lush green as is the lawn. Marvelous place to live!