Christopher Hui

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Christopher Hui
Posted over 2 years ago
Dan Pallotta: The way we think about charity is dead wrong
Between 1994 and 2002, Mr Pallotta and his team raised USD$556,084,631 in total. Of this, USD$305,620,303 reached the end user charities for all causes (source: Pallotta TeamWorks website). Although there is some minor discrepancy, Mr Pallotta himself quotes values of $582m gross funds raised. Net for AIDS was $108m. Net for breast cancer was $194m. Net for others causes was $3m, giving $305m net total raised and received by the end-user charities. The remaining $277m was spent on direct costs and a flat 4.01% fee for management. This represents an efficiency of 52.41% to 54.96%, which I actually think is approaching acceptable given the context of the extremely sizeable scale of funds that he and his team raised in a relatively short time. I stand corrected, and retract earlier statements that were made on the basis of figures without the benefit of understanding that a further $194m and $3m were given to other causes out of the same total revenues.