The Biden Cancer Initiative, established in 2017, has reportedly paid millions to some of the top executives, but much less to cure or stop cancer in comparison.
Former Vice President and current Democratic presidential hopeful Joe Biden founded the nonprofit organization. However, it was later proven that the money did not go to cancer patients but went towards staff compensation and provided six-figure salaries for its top executives.
As reported by Fox News, the Biden Cancer Initiative spent nearly 65% of its expenditures on paying top executives. More than 25% of the donations are left for administrative overhead and fundraising costs.
In two years, the nonprofit raised $4.8 million, as their 2017 and 2018 tax form shows. More than $3 million went to salaries, compensations, and benefits. That’s not all; the group spent $1.7 million on other expenses. $740,000 was allocated towards conferences, conventions, and meetings. During its two-year run, it did not cut a single grant.
Charity Navigator reported on its analysis of nonprofits. The analysis rates charities for its effectiveness. One of Charity Navigator’s criteria for rating charities is whether or not they “spend at least 75% of their expenses directly on their programs.” As reported in the article, mid-to-large-sized nonprofits pay chief executives an average salary of $126,000 per year. The Biden Cancer Initiative almost doubles the amount at $224,539 with their president Greg Simon.
Biden Cancer Initiative’s financial disclosures show most of its money goes to their staff and executives. The report ends questioning the Democratic presidential hopeful if he’ll allow his associates to profit off their access to him.
Photo: https://www.flickr.com/photos/gageskidmore/48252462456
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