How much did you donate?

[1ntCobra]

It does seem pathetic how little money has been going out.

The article says that in 2005, the fund had net assets of $2.9 million. So it is not like someone is stealing the money or wasting most of it on administration costs.

There was something in the article that said something about the Wells Fargo Bank was trying to guide them on how big the charity's endowment (which I read as assets) should be. Hopefully the bank will not suggest continuing to build up the endowment and will favor distributions instead.

[Power Surge]

Not that I agree with how the process works, but many charities out there work the same way. I remember seeing a special on TV a few years back, that touched on this very subject. Most of the nationwide known charities like the feed the hungry, homeless, war vets, etc, etc, AVERAGE about 5 cents for every dollar taken in going to the actual cause.

This ain't a shelby thing folks, it's a charity thing.

And for what it's worth, I just sent in my $100 donation to the heart fund. I am not ashamed to say it was 100% for my autograph, and had nothing to do with charity.

[computerworks]

Originally Posted by 1ntCobra

The article says that in 2005, the fund had net assets of $2.9 million. So it is not like someone is stealing the money or wasting most of it on administration costs.

I am not trying to be an apologist on this... I just don't think it's enough to make the villagers here once again gather torches and pitchforks and verbally storm the castle.

OK...2.9MM in assets.
Know that is comprised of almost $2 million (in valuation) of CS's car collection turned over to them.... and a couple of hundred K of donated stock. That means the real "I can spend it" assets are a few hundred K total.

Like I said, there are no sacks of cash lying around in the office. Could they be smarter and have more services donated? Sure...
Should they pay expenses for an autograph-session, like at a SAAC National? Sure...

This year, they have more real bucks in hand than ever, thanks to Ford...
as expenses go, it will probably push them out of the break-even area and give them more cash to disburse...
..let's see what they do with it this year... then pass judgement

[DAVID GAGNARD]

Not that I agree with how the process works, but many charities out there work the same way. I remember seeing a special on TV a few years back, that touched on this very subject. Most of the nationwide known charities like the feed the hungry, homeless, war vets, etc, etc, AVERAGE about 5 cents for every dollar taken in going to the actual cause.

I disagree with the 5 cents on a dollar figure.......I can't find it right now, but when the Red Cross scandal hit, it seems to me the national average was more like 70 cents on a dollar went to the cause, that's 70% of the monies collected went to the cause and 30% to adiministration costs.................

David

[cscf]

As director of the Carroll Shelby Children’s Foundation, I’d like to share what is really happening with our organization. Please read Carroll’s comments on our website (http://cscf.org/jul07letter.asp) that explains how our donations are being used to establish a perpetual endowment so the Foundation can make grants for years to come. Once you read his message, I’m sure you’ll understand our goal as this is a standard practice for major charities worldwide.

Jenni Shreeves

[boblyon1]

Folks would do well to read Carroll Shelby's rebuttal at the end of the article before drawing conclusions. "Growing" the endowment fund for perpetual stability instead of giving away a lot of the value does make sense and will continue his good intentions for many years after he is gone.

bob