Off the top of my head, I do know one way and that is that they will have their kids or relatives "run" the nonprofit and make stupid high salaries and have all sorts of stuff paid for. It is a tax write-off for the rich and it makes them look like they care... just as long as people do not look at who is in charge of that nonprofit and where the money goes.
Another thing you alluded to that I think is the biggest issue that needs to be investigated is it isn't like these donations go to large established nonprofits that know what they are doing. These new ones pop up like startups get a flood of money and then end up folding years later. When you have a full-time staff of two people like FLI did and you get this type of money.... come on it's clear as day you are being bought or rewarded for puppetting ideas of the one who provided the cash.
I'm not necessarily against someone like Dorsey donating to a nonprofit that would arguably fall in his industry since I think a lot of good can be done in helping people learn about their finances but like you pointed out its not always with even remotely good intentions. I would much rather see someone like Dorsey on the board or something like that helping direct the funds because he knows where the issues are, and where the regulations are, and people would be more receptive to listening to him to actually help the people.
Kinda like if Warren Buffet with Kraft (I think he still owns a lion's share of it) made a huge donation of food. He/his people would be extremely well equipped to get food to where it needed to go as fast as possible.
Agree 100%. Why can't there by an e/acc charity that takes in a billion? What isn't there an e/acc channel on stacker news?!
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