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AG

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Shane Warne Foundation - and other dodgy charities
« on: November 29, 2015, 02:20 »
Several articles recently have exposed the Shane Warne Foundation as being incredibly dodgy indeed - and is now being investigated by the Australian consumer watchdog for its financial and reporting practices.

http://www.smh.com.au/business/shane-warnes-charity-under-investigation-20151113-gkylcn.html

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The probe comes as an investigation by The Sunday Age can reveal The Shane Warne Foundation raised $1.8 million in three years but donated an average of only 16 cents of every dollar to institutions that care for sick and underprivileged children.
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Financial records obtained by The Sunday Age show the spin bowler's personal charity has instead spent the majority of its funds from 2011 to 2013 staging glitzy celebrity events and employing a member of the cricketing great's family.

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In one year, Shane Warne's brother Jason drew a salary of nearly $80,000 but the fundraiser only dispersed $54,600 to its beneficiaries.
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The documents also show more than $300,000 was spent on catering, alcohol, merchandise and prizes for events at the same time the foundation was posting steep financial losses.

The foundation's mission statement is to "raise funds to help enrich the lives of seriously ill and underprivileged children and teenagers in Australia", dispersing money to organisations such as the Starlight Foundation and Clown Doctors, as well as to individual families. 


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The Sunday Age obtained The Shane Warne Foundation's records for 2011-13 by compelling their release under an obscure provision of Victoria's Fundraising Act.

Financial records for later years were either missing or unavailable for viewing.

The 2011-13 financial documents show the foundation donated just $281,000 to charity despite raising $1.8 million over that time. Expenses consumed more than $1.2 million.

It means only 16 cents of every dollar raised actually reached one of the foundation's nominated charities over those three years.

By comparison, men's health charity Movember reported that 86 per cent of funds raised were actually spent on charitable endeavours, while the Red Cross spent 76 per cent.

The splurging on large-scale events also led Warne's foundation to run at a financial loss for two years in a row, and the funds paid out for actual charitable endeavours dropped nearly 70 per cent from $177,000 in 2011 to $54,600 in 2012



and a followup article isnt getting any better

http://www.watoday.com.au/business/shane-warne-foundation-sought-to-block-release-of-records-by-regulator-20151128-glaer2.html

It seems that the Shane Warne Foundation tried to block the release of its financial statements ... but eventually has released them, showing the last few years are still not pretty viewing.

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The 2014 documents show the foundation is in a worse financial position than it is currently publicly claiming.

The foundation has recently told the media it donated 30¢ of every dollar raised in 2014.

But the 2014 records show just 11¢ of every dollar raised were actually earmarked for charities that care for sick and needy children that year.

The foundation is only legally obliged to distribute 4¢ of every dollar it raises.

In 2014, the foundation spent $551,000 on marketing, events and other operating costs but only actually raised $452,000.

The expenses included $55,000 spent on "partnership agreements", $96,000 on catering and alcohol, and $133,000 on salaries.

Only $50,000 was distributed to its beneficiaries – charities such as the Starlight Foundation and Clown Doctors.

It's the third time in four years the foundation has run at a loss.

The foundation has refused to explain how it calculated the 30 per cent distribution figure for 2014.


and finally

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"What is not on the books is the sheer amount of hours for visits, corporate speeches and hostings that would run into the hundreds of thousands, if not millions, of dollars over the life of the organisation for the general goodwill of the foundation and other charities that can leverage appearances by people like Shane," they said.

"Part of it is to have distributions. A major part of it is to bring joy and fun to people who otherwise wouldn't. That's the bottom line on The Shane Warne Foundation."

coz - you know - its all about awareness and publicity   :fp 
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  • Carlo Algatrensig

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    I've long felt with things like this that you don't give money to the famous persons foundation. If you're inclined to do so find out about the organisations they claim to distribute funds to and give directly to them.

    These Charities/Foundations just add an extra layer of bureaucracy/opportunity to line friends and relatives pockets from money that people hope will be going to worthy causes.
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  • Claudio Cappuccino

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    It is sad but it is a well known fact charities let stick too much to the fingers. Thats why I only donate to small animal rescue organizations, or give actual food to our local food bank in the form of cat or dog food.

    When you go and find out how much charity money is not spend world wide but what goed into the pockets of the organizations a lot of people would stop giving. In my view at least 75% of every dollar/euro brought in should go to the goal itsself. I dont think a lot of charity organizations come to that number....

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  • Ram

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    If someone's donating to anything related to Shane Warne, he deserves to be pilfered.
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  • AG

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    yeah

    though I have donated (and will continue to do so) to the Glenn McGrath Foundation.

    I have looked at their financials and stuff - and they do actually do good things.  You never know with just looking at financials, but they do provide a lot of nursing and patient care to breast cancer victims, and real actual quantifiable help - which is good enough for me.

    The Shane Warne Foundation - cant say I am that shocked - I suppose I am just a bit surprised at the level of it ...
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  • Ram

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    The Shane Warne Foundation does seem more like a name for his recent plastic make up, to be fair.
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