Many vets like to help others in need. Donating to charities that provide services to vets in need is one way to do that.
But as is always the case, there are veterans’ charities . . . and then there are veterans’ charities. They’re not all equally good regarding “bang for the buck” – if you define “bang for the buck” as the proportion of donated funds that actually get spent on helping veterans.
Some veterans’ charities are quite good in that respect. According to CBS News, the DAV Charitable Service Trust spends 96% of its funds on veterans. Fisher House is also good (91%).
Wounded Warrior Project? Um, not so much. CBS News says the actual figure for WWP is around 60%. (WWP claims 80% – but per CBS, they do so by including shipping/postage costs, the cost of selected promotional items, and the cost of direct response advertising. Remove those overhead items and the fraction falls to around 60%.)
They apparently like to party, though. In 2014, WWP spent over $26 million on “conferences, conventions, and meetings”. That’s up from a bit over $1.74M in 2010 for “meetings and events”.
One 2014 annual meeting alone – for about 500 WWP staffers, held at what appears to be a very nice resort in Colorado Springs – cost roughly $3M. Sounds to me like the people at the VA who plan conferences must have given them a few pointers.
WWP also seems to pay their top employees well, too. As in nearly $500k in 2014 salary for their CEO.
And did I already mention that WWP gave an organization that defends higher spending by charities for fundraising, overhead, and executive salaries a grant of $150,000 last year? I didn’t mention that yet? Well, according to CBS – they did.
Current WWP CEO Steven Nardizzi took over in 2009. Per CBS News, “Former employees say spending has skyrocketed since Steven Nardizzi took over as CEO in 2009. Many point to the 2014 annual meeting at a luxury resort in Colorado Springs as typical of his style.”
CBS News is doing a multi-part report on WWP this week. Part 1 may be found here; part 2 may be found here; part 3, here. (I have no idea if CBS plans more parts to the series, so monitoring their web site might be worth your time for the next few days.) The articles are eye-opening – and to me, rather disturbing.
I can say with certainty that until WWP cleans up their act, they won’t see a penny from me. But that’s just me. I can’t speak for others on this issue.
Edited to add: a belated footnote – a comment on an earlier article by longtime readernbcguy54ACTUAL tipped me to the the first CBS story in the series. My apologies for not giving him that credit earlier.