I have to disagree with you. Whenever I have seen the Salvos rattle the tin for collections I do not recall them asking if it?s OK to use the money for investments or for shares on the ASX. All people such as myself when donating to a charity are of the opinion that this money will be used for charitable use.
I understand there will be administration costs but given the voluntary nature of the Salvos I can?t see how this could be more than 10%.
I have lived in Queensland since 1981 and as I recall during that time I have seen homeless people and others in need all during those years. The Salvation Army are to blame for any stock market losses because the money should never have been siphoned off from the true charitable cause they allow their donators to think they are giving too!
Some time back I helped in a minor flood at Rocklea in Brisbane after a mate and I worked for twelve hours cleaning up a flooded home. After removing every electrical point cover in the house and several cans of WD40 later I managed to get the electrical power on. At that point the Salvation Army van rolled up with a box of basic supplies for the house tenant, biscuits etc. I carried that box into this guys home and not one item in that box was within its sell by date!
I am sure the Salvation Army and the many other charities do some good work but currently I am bagging up clothes shoes and other useful items I can spare and I will take these and my cash donations direct to The RNA show grounds in Brisbane.
I repeat any single charity donated dollar resting in an investment account whilst there are so many in genuine desperate need is personally repugnant to me.
I am at a total loss as to how you can even think of defending the use of such charitable donations!
However; you are entitled to your view and I respect that.
