The Dallas Business Journal reports that the Texas Stampede, benefiting the Children’s Medical Center of Dallas, is in the bottom two (2%) percent of charities as ranked by Charity Navigator. According to the ranking data, 72.9% of the money raised went to pay for fundraising and administrative expenses.
This begs the issue of how effective charity events actually are. If you plan to attend to have a good time (or a tax break), that’s one thing. If you want your money to actually go to the stated charitable beneficiaries, take some time to evaluate the charity.
I’m not trashing the Texas Stampede. Some of the funds are going to a worthy cause. However, if you want to help the Children’s Medical Center of Dallas, wouldn’t it make more sense to cut the check directly to the center instead of having nearly 3/4 of your money spent elsewhere?
Hat tip to Todd M. at Pegasus News Wire.