St Jude - Its Charitable Deja Vu All over Again

[Bekeart]

St. Jude's Has Billions, and ProPublica Isn't Sure It Should
Site argues the charity has overly huge reserves as some of its families struggle financially

St. Jude's Has Billions, and ProPublica Isn't Sure It Should

The Memphis hospital has lots of it, thanks to the ubiquitous mailers
featuring smiling, bald patients it sends out and big-name celebrity ambassadors.
Last year it brought in a record $2 billion, bringing its reserves to $5.2 billion,
"enough to keep things running for 4.5 years without another penny coming in
and a reserve it says it needs due to the "economic driven vagaries of charitable giving."

Its Deja Vu All over Again: In a New Yourk Times story -
1974 Boys Town was shown to have HUGE RESERVES.

Over the years since, Boys Town, a nonsectarian home for homeless,
neglected and underprivileged boys aged 10 to 18,
has developed the art of raising money to a fine point.
Its current net worth is more than $226 million,
most of which is in a rapidly growing endowment fund
that was a virtual secret until two years ago.

Boys Town Has an Embarrassment of Riches - The New York Times

Never let EXCESS FUNDS or a CURE get in the way of a good fund raising.

Remember when the March of Dimes was collecting funds
as as the National Foundation for Infantile Paralysis, to combat polio?

March of Dimes - Wikipedia

Following widespread use of the polio vaccine, the organization was faced with disbanding
or steering its resources toward a new mission. Basil O'Connor, then the organization's president,
directed his staff to identify strengths and weaknesses and reformulate its mission.


Bekeart's Soap Box:
I do donate to some charities, but I use the net and check up on them.
I expect my donation to be used wisely, and not for excessive salaries.
Any charity that claims to help "those in need" must pass my Sunday Morning Test.
I call their published phone number between 10:00 and 11:00 AM.
If I do not reach a human, a person in need would not be able to get help.
NO HUMAN ANSWERING THEIR PHONE = NO DONATION.

An unnamed charity no longer gets any donation after not answering two letters with specific questions.
They still send me numerous mailings, but would not answer questions asked in two letters.


Bekeart

 

[Greyman50]

Check out goodwill's big wheels salaries.

 

[Ivan the Butcher]

The thing that appeals to the middle class is, no matter how much money I make or don't make, Saint Jude's won't turn my kids or now grand kids away! I remember Danny Thomas doing live TV and basically begging for donations. Then one of my friends got sick and was one of the 4 out of 5 that died! Now thanks to Saint Jude's and other research facilities, 4 of 5 of kids like my friend live!

Ivan

 

[Rustyt1953]

We don't have much in the way of disposal income but when we can we give a little to;

1: A local animal rescue shelter.

2: Matthew :25 Ministries (disaster relief)

3: Salvation Army.

PS: I know a few members here that have been the beneficiaries of St. Jude's cost-free services.

The moral is "let your heart be your guide."

 

[JH1951]

I remember Danny Thomas well, as well as his mission and what brought him to it. If you do not know the story, check it out, it is interesting.
I support his legacy. I do considerable selling on eBay and a percentage of sales go to The Saint Jude Children's Hospital. In my estimation they provide a positive impact on society to many who genuinely need it. For me, it is money well placed. The large reserves they hold could dry up quickly. Running a research hospital for children - at no cost to the patient - is a noble cause in my book. I can find a reason for not doing just about anything, but I have not spent the effort to do so with this group. This is my opinion, and not an invitation to argue.

 

[rustythread]

I had as a client some years ago a minor child who had been hit and dragged several blocks under the car. St Jude's did a marvelous job treating both the injuries and the disfigurements. After we collected from the negligent parties, we tried to gt St. Jude's to give us a value/price for the services so that we could reimburse them, at least in part--they refused, saying that they would not take money for medical services. period.

 

[LVSteve]

America has had a thing about money reserves for a while IMHO. It comes from the "a dollar moving is a dollar earning" ethos. There is a balance to be struck, obviously, but I find the generalized demonization of reserves and warehousing ridiculous.

 

[Alpo]

That is totally idiotic.


We just checked and discovered that Joe Smith has $75,000 in the bank. That is an entire Year's pay. WOW. You know what that means? It means this year we don't have to pay him because he already has money. He doesn't need any pay. We don't need to pay him until he's stony broke. Once he doesn't have any money then we can start paying him a wage. But since he doesn't need it at the moment, we're not going to pay him anyting.




Isn't that the same thing? St Jude's has got four years worth of money in the bank so don't give them any donations. Let them spend all their money, and four years from now when they are broke then we can start donating again.

 

[hsguy]

I always give to St. Jude's. As an adult cancer patient I can't imagine the distress for the young patients and their families. I actually had the son of a co-founder of St. Jude's as a seatmate on a flight to Memphis, he was on his way to a hospital board meeting. We both were in first class and a crippled old man came on board walking with much difficulty on a cane. My seatmate jumped up and told the gentleman to take his seat as he would be more comfortable and my seatmate would be glad to move to coach. The elderly gentleman thanked him for the offer but refused. I was impressed and a bit embarrassed that I did not offer my seat. We talked during the flight and he recounted the history of St. Jude's.

St. Jude Children's Research Hospital - Wikipedia

American Lebanese Syrian Associated Charities - Wikipedia

 

[HOUSTON RICK]

It is hard to find a 100% pure charity, my family has given to St. Jude for generations. Not every penny is spent how would like, but there are few better causes. Kind of like the NRA.

 

[yaktamer]

So I read the linked article. In a nutshell (unless I'm missing something) it appears that ProPublica (a "non-profit" with it's own history of controversy with respect to the amount it spent on salaries), is upset that St Jude's, which adheres to its promise not to charge anything for its services, doesn't also pay the rent/mortgage, car payments, etc. for families receiving treatment -- something they've never promised to do and that is beyond the scope of its mission. As far as reserves, when the economy tanks, as it did during the great recession, charitable giving drops off. Having a healthy reserve allows a charity to weather economic cycles. I'd be more concerned if the reserves were being spent on excessive salaries, etc. -- as was being done after 9/11 with the Red Cross, and with another organization that shall remain nameless.

 

[Snapping Twig]

St.Judes and Shriners are named in our wills and Trusts.

The work they do for the innocent is beyond reproach.

We are a better world for their existence.

 

[vytoland]

We contribute to Saint Jude's regularly....

 

[Chukar60]

Hmmm a charity rolling in dollars manages to provide free medical care to people who need it.
Where is the problem with that equation cuz I can't see it.
I would be concerned if they turned away people who never donated or made patients and or their families sign an obligatory note for donations after they had rendered service to them.
Apparently a lot of people who donate find their cause very worthy of their charity.