Charities that are willing to accept just a tiny fraction of donation proceeds may deserve further financial scrutiny.FOR EXAMPLEFullerton’s Faith’s Hope Foundation was dedicated to “assisting families going through the emotional and financial hardship due to the hospitalization of a loved one,” according to its mission statement.In 2012 – the last year it filed tax returns with the IRS – it spent $3.5 million, and $3.3 million of that went to fundraising. Advanced Remarketing Services also avoids storing vehicles for long period of time – which cuts down on storage fees – and on expensive towing.“It’s definitely disappointing to see people taking advantage, maybe not have the best interest of the charity they work with at heart,” he said.Donors should read the tea leaves. That includes selling directly to buyers, which cuts down on auction fees. We’re not tyring to pull the wool over anyone’s eyes,” Lasky said.It can return so much because it doesn’t depend solely on auctions to sell the vehicles, he said. “Our goal is to return 70 to 80 percent to the charity – we form a partnership with them. The charity got $1.9 million, or 69 percent.Zachary Lasky is the e-commerce product manager for Advanced Remarketing Services. Automotive Recovery Services also processed $2.7 million of donations for the National Kidney Foundation in New York.The charity got $1.1 million, or 74 percent. Automotive Recovery Services processed $1.4 million of donations for the National Council of the Society of St.
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