Power of Charity

Did you know that there were some 68,000 charity foundations in the U.S. in 2005, controlling assets in the range of $500 billion and making some $34 billion in annual grants? I came across a book called The foundation where it talks about the ineffectiveness of these charity group. The author writes how big grants are being signed off without ever asking anyone- grantees or members of their own staff- precisely how a given program or grant is supposed to achieve its goal and without measuring, later , whether it has succeeded. wow! $34 billion is a lot of money. To put it in perspective,the regular budget of the UN is some $1.3 billion per year, and the administrative budget of the 15-country European Community amounts to some 4.5 billion.