Report faults many veterans' charities
Many U.S. veterans' charities spend far more on fundraising and overhead than they provide for good works, a report released Thursday said.
The American Institute of Philanthropy said eight of 29 organizations gave less than one-third of the money they raised to veterans. The institute said 20 of the 29 appeared to be paying too much for direct mail solicitations, paying leaders high salaries or otherwise mismanaging their resources, The Washington Post reported.
The institute gave 12 groups a failing grade.
"They know how to work the system, and they seem pretty good at not going over the line, although it is pretty outrageous that so little money is actually winding up benefiting charities," said Daniel Borochoff, who founded the institute, based in Chicago.
The institute report was released as the House Committee on Oversight and Government Reform prepared to hold a hearing on the charities. // Copyright 2007 by United Press International
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