Posted on 09/09/2007 9:55:17 AM PDT by Stoat
September 9, 2007 -- A charity that tapped the influence of former President Bill Clinton and ex-Sen. Bob Dole and raised more than $125 million to send the children of 9/11 to college is stiffing families it promised to help, The Post has learned.
Clinton and Dole spearheaded a campaign for Scholarship America that raked in millions to "guarantee a college education to the children and spouses of everyone who was killed or disabled on Sept. 11," as Clinton vowed on the Larry King show in September 2002.
Major corporations, including Citigroup, DaimlerChrysler and Major League Baseball, gave $5 million or more. Hundreds of other companies and individuals pitched in $10,000 and up.
In the six years since, the Minnesota-based charity, which launched its "Families of Freedom Scholarship Fund" days after the terror attacks, has doled out only $19 million in college aid to 731 recipients.
But the fund is sitting on $133 million as donations continue to flow in and the money is invested.
Yet the charity has refused or slashed aid to families that earn interest from their 9/11 Victim Compensation Fund payments, saying that's taxable income that reduces their need.
(Excerpt) Read more at nypost.com ...
"Show me just what Mohammed brought that was new, and there you will find things only evil and inhuman, such as his command to spread by the sword the faith he preached." - Manuel II Palelologus
I didn't have to read any further than that.
So in order to determine who is “in need” this intrusive busybody of a “charity” has to stick its cigar down every families financial undershorts.
Not that this doesn’t need to be looked into, but didn’t they already get settlements (for what?) of a million dollars or more, in some cases a whole lot more?
Sorry if that sounds harsh.
$19,000,000/731=$25,992
I donate to Military related scholarship funds.
Former President Bill Clinton has been doing two things since leaving office: 1) bagging women and 2) setting up charities.
I remember when he announced that he’d be organizing the big tsunami relief fund; I was thinking he’s really become good at the art of raising money for others in order to take his cut. There’s nothing like being a politician to make one an expert.
Check out the change over the last few years in what comes in vs. expenses.
This is BS, the fund is doing just what it should be doing so that it can last over the years and pay out to over 3600 people.
Why do people think that you won the lottery if you had someone die on 9/11, and you never have to pay for anything yourself ever again?
“Sorry if that sounds harsh.”
The point is Clinton and Dole did not promote this fund to “Only Help Pay For College For Needy” Kids of WTC, they promoted the fund for “All Children of WTC killed”.
There is a difference. The head of this “Charity” has a conflict of interest.
He’s making $250,000 a year. The more money he spends on college educations, they quicker he will go through it and the sooner he will be out of a $250,000 job.
Who would not want that job?
Very interesting site, thank you for posting.
To be fair, this charity has a higher rating than the United Negro College fund, but that isn't saying much :-)
$125,000 / 3600 recipients = $34722.22 per recipient
Well, if someone thinks an undergraduate education simply MUST
run at $40,000 to $60,000 per year, the fund does need to be strict.
And maybe the fund/charity managers are also charged with getting
recipients through a J.D., M.D., PhD. or MBA.
Or any combination of graduate programs.
Charity Navigator might want to rethink its rating...
Linkfest: Clinton Endorsed 9/11 Scholarship Charity Stiffing Kids On Tuition Payment
The What if there are funds left over? bit is very interesting.
Now why doesn't this surprise me Clinton tied to a scam; it's a natural thing.
What if there are funds left over?
Scholarship America firmly believes that all funds will be awarded to students and will adjust the percentage of need covered accordingly in order to distribute the entire amount through the year 2030. According to the Fund Declaration, the Board of Directors of Scholarship America may redirect any excess assets of the Fund to support other post-secondary education scholarship programs of Scholarship America on the good faith determination of at least two-thirds of the directors that the needs of the victims’ dependents have been met, or can with reasonable certainty be met with less than all of the assets of the Fund. In any event, any assets remaining in the Fund as of December 31, 2030, may be used by Scholarship America to support other post-secondary education scholarship programs for needy students.
Indeed. They want this gravy train to keep rollin' and rollin' and rollin'......in the direction that they reserve the right to choose at any time.
For those who have already forgotten The Dark Age of Clinton, this may serve as a useful reminder of just a small idea of what can be expected with a "Hillary Presidency" (gag)
This is going to turn into an attorney’s slush fund to use to fund the DNC and RAT candidates.
Watch, the groundwork is being layed. First there will be the lawsuits. Watch who is representing the plaintiffs. Then the money will disappear. Then the RATS will blame some Bush administration appointee for improperly handling the funds.
Then it will be all forgotten and Hillary will get another 15 mil in political contributions from the law firms.
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