Wednesday, September 19, 2007

Who to trust?

I met this guy who is managing a children's home two days ago. I went to the home and found it to be quite nice. He told me that the financial condition was terrible and the founder and her foundation was not providing much support any more.

Luckily, the founder was an American with an NGO set up in the states to support the home. 10 minutes of checking on the internet and I found that the home actually raised $36,000 to support these children... of which it spent $21,000 of the money on the children. It has over 42,000 sitting in the bank. The manager of the home says that he has been raising money to support the home by selling goods and asking for donations locally, so the amount of money the home receives is likely more than what I can find on the internet.

I smelled a rat with this guy from the start because he must have said "it is hard" about the financial situation 30 times in an hour conversation. Given that the cost of living is very low here (82% of people live on less than $2 a day so it must be low) and doing some basic analysis running the numbers he gave me, they should be in great financial condition. I am not sure if this is a total scam, but I am not going to do anything to help bad since the kids seem to be very nice.

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