183m yuan unexplained in charity financial report
By Lu Feiran |
January 9, 2012, Monday
|
Print Edition
Print Edition
THE Shanghai Charity Foundation has published its first annual fiscal report - but does not say how exactly a surplus of almost 183 million yuan (US$28.9 million) was used.
Its figures were released against a national backdrop of charity scandals last year.
The foundation said last year it received more than 734 million yuan in donations.
About 551 million yuan of the donations was spent on its medical care, education, and senior and needy people aiding programs, the foundation's figures showed.
Among programs, the foundation spent most on needy families - including widespread donation distribution before Chinese New Year's Day.
However, the report sheds little light on how the remaining cash, totaling 182.5 million yuan, was spent.
Officials said part of this was for "administrative expenses," while the remainder will be spent on programs this year.
But they didn't reveal how much "administrative expenses" accounted for.
The foundation said its fundraising wasn't affected by financial scandals that hit some charities in China last year, and that it received more donations than in 2010.
Officials said their figures have not yet been audited, and they will publish the results once this is done.
Last year, several charities were hit by financial scandal.
The Shanghai Charity Foundation itself faced accusations that donations collected after the Jiaozhou Road high-rise inferno on November 15, 2010, had gone missing.
But the foundation published donation expenses and a third-party audit found "no mishandling" of donations.
The most high-profile scandal hit the China Red Cross, after 20-year-old Guo Meimei, who claimed to be "a general manager for Red Cross Commerce," posted photographs on the Internet to show off her lavish lifestyle.
While no link was ever proved, questions were asked about transparency in the Red Cross, and the organization's image was damaged.
Earlier, in Shanghai, Luwan Red Cross faced criticism for spending 9,859 yuan on a meal at a restaurant. Luwan Red Cross apologized to the public.
Scandals have affected the credibility of the non-profitable organizations in China. Several provinces have reported that donations have fallen.
Its figures were released against a national backdrop of charity scandals last year.
The foundation said last year it received more than 734 million yuan in donations.
About 551 million yuan of the donations was spent on its medical care, education, and senior and needy people aiding programs, the foundation's figures showed.
Among programs, the foundation spent most on needy families - including widespread donation distribution before Chinese New Year's Day.
However, the report sheds little light on how the remaining cash, totaling 182.5 million yuan, was spent.
Officials said part of this was for "administrative expenses," while the remainder will be spent on programs this year.
But they didn't reveal how much "administrative expenses" accounted for.
The foundation said its fundraising wasn't affected by financial scandals that hit some charities in China last year, and that it received more donations than in 2010.
Officials said their figures have not yet been audited, and they will publish the results once this is done.
Last year, several charities were hit by financial scandal.
The Shanghai Charity Foundation itself faced accusations that donations collected after the Jiaozhou Road high-rise inferno on November 15, 2010, had gone missing.
But the foundation published donation expenses and a third-party audit found "no mishandling" of donations.
The most high-profile scandal hit the China Red Cross, after 20-year-old Guo Meimei, who claimed to be "a general manager for Red Cross Commerce," posted photographs on the Internet to show off her lavish lifestyle.
While no link was ever proved, questions were asked about transparency in the Red Cross, and the organization's image was damaged.
Earlier, in Shanghai, Luwan Red Cross faced criticism for spending 9,859 yuan on a meal at a restaurant. Luwan Red Cross apologized to the public.
Scandals have affected the credibility of the non-profitable organizations in China. Several provinces have reported that donations have fallen.
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