Looks like a communists organization to you?
Non profit that gets it’s money from where?
Good Heavens yes!
The Sandlers helped found and are among the largest benefactors of the Center for Responsible Lending, a nonprofit, nonpartisan organization fighting predatory mortgage lending, payday loans, and other products that prey on consumers;[10] the Center for American Progress, a progressive think tank; ProPublica, an investigative reporting newsroom; and the American Asthma Foundation.In addition, the Sandlers or their foundation support organizations involved in medical research, the environment, human rights, and civil liberties.
Sandler Foundation is a charitable foundation formed in 1991 with support from Herbert Sandler and Marion Sandler, co-CEOs of Golden West Financial Corporation and World Savings Bank. In 2006, the Sandlers made a contribution of $1.3 billion to the foundation, which was the second largest American charitable contribution of 2006.[1] Sandler Foundation is a spend-down foundation as the Sandlers have signed The Giving Pledge.[2] The Sandlers founded the
A 2008 New York Times article notes that the foundation has provided substantial support to several nonprofit organizations, including ProPublica, the Center for American Progress, the Center for Responsible Lending, Human Rights Watch, the American Civil Liberties Union, as well as other nonprofit organizations that conduct research in parasitic diseases, asthma (the American Asthma Foundation), and basic science (UCSF Program for Breakthrough Biomedical Research).[5]
Sandler Foundation also helped establish the Human Rights Center at UC Berkeley,[6] the Sandler Asthma Basic Research Center at UCSF,[7] and the Sandler Center for Drug Discovery at UCSF (previously the Sandler Center for Basic Research in Parasitic Diseases).[8]
Sandler Foundation has been identified as a supporter of other charitable work, including:
• A Johns Hopkins University national effort to reduce central-line associated bloodstream infections [9]
• The Pew Charitable Trusts' "Safe Credit Cards Project"[10]
• Public Library of Science (PLoS)[11]
• Center on Budget and Policy Priorities [12]
• National Center for Youth Law [13]
• Oceana [14]
• Earthjustice[15]
• Free Press [16]
• PICO National Network [17]
• Tax Policy Center [18]In an article for Inside Philanthropy, David Callahan wrote that the foundation's strategy involved strong organizational leaders and providing long term general support. Callahan listed ProPublica and the Center for American Progress as notable funding successes for the Sandler Foundation.[19] nonprofit investigative news organization ProPublica.[3]
About payday loans: Used to be lots of them in Ohio. After massive lobbying by banks and others, banks were allowed into the payday loan business. The independent payday loan groups agreed to a specific date for the loan to be reapid. Usually the borrower wrote a postdated check.
When the banks took over the business, they charged the exact same gross interest rate as the payday loaners. However, the bank took the money out of any money received by the borrower, whether before the loan was due or not. So, the borrower might get paid one day after the loan was made, leading to the bank getting the money back, with interest, after one day.
The bank would take the money that same day, while the payday loan company waited until the due date to cash the check. So instead of 10% for 30 days (effective annual rate of 213.84%), the borrower might pay 10% for one day (effective annual rate of 128,330,557,999,999,900.00%). Not a misprint.
Co-CEOS of Golem West Financial Corporation. Charitable.