I've alluded to this before, but, hey, if you want to get rich in America then start your own Foundation. There is a yahoo used car salesman here in Tulsa who is advertising his dealership on the radio and soliciting people to donate to HIS Foundation. Ever since reading the Lance Armstrong Foundation Financial Statements, I've come to the conclusion that starting one's own Foundation is the way to appear "philanthropic" to the world while banking the money that comes through the doors. Oh sure, a portion of the money goes to a cause, but what ever happened to the idea of people giving out of the goodness of their hearts, not because they can benefit financially from the idea.
I'm going on a quest to find the IRS rules on Foundations. There are obviously some pretty loose rules that many people of low integrity are taking advantage of. We can be sure some of these people are not doing this out of the kindness of their own hearts.
Gig'em Longhorns !!!
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