| I have had an idea about using charitable money in innovative ways, and think that I have come up with something that may have some promise. I am putting this idea out for public consumption to make of what you will. The idea is this; If it is to be taken that more educated and higher paid people have fewer health problems because of insurance and greater understanding of what it is to be healthy, one of the root questions should be how to lift people up from a lower economic standing. It is always a gamble, and one that has not yet been beaten consistently, when figuring out ways to put money to its best use, so consider this; Say there is five hundred thousand dollars ready for charitable investment. Instead of doing the same old thing which is done, or slight variations, why not open a business - a for profit business. The Fund would pay for the property and the building and the equipment. The business would be opened close to an area which is economically challenged, or near enough to an area like that to allow for easy transportation. The type of business would be determined by a board and the local demands of the surrounding community, and the beginning manager would be provided by the Fund Organization. His job would be to get the business up and running. Now, here is the new part - the business would be a for profit business, but not in the usual sense. The beginning manager would train the subsequent manager, who would then have a pay cap of 1.5 (or so) times the highest salary. The profits would be maximised, but would be used wholly for the increased pay and other benefits of the workers. I would envision a higher hourly wage, plus end of year bonuses based on the profit of the business and the longevity of the employee (NOT the employee's position in the company - the janitor would get just as much a bonus as the manager, or if he had been there longer, a larger one). A certain percentage of those profits would be used for complete health coverage of the employees and their families, free of charge and, if feasible, some type of plan for education assistance should also be made available. The businesses would be private, and therefore not subject to the whims of stock holders, and the employees themselves, as the people who keep the entire profit, would be in a better position to make decisions with not just profits in mind, as board members often make decisions, but also with the fact that they are the workers, and the neighborhood where they work is theirs. They would be able to decide how much can be devoted to other benefits. The biggest thing is, in this co-op setting constantly increasing profits would not be the goal envisioned - a secure, well paying job that helps enrich all workers equally instead of the few at the top - and the owners most of all. The details would have to be worked out, and there is always the fact that the Organization would retain title to the land and properties; in that sense, the original money would never be wholly at risk. These co-ops could have a large effect on surrounding communities. Properly managed, and properly chartered, the businesses could grow, effecting a wider and wider segment of our population, and building with it a new way of doing business. Without the chase to the last cent, sacrifices could be made to keep vital industries here in America, and to help to send the first of a series of generations of kids to college, all from one initial investment. Some businesses would remain small and local - others could grow to be quite large. All would serve the greater purpose of lifting people out of poverty, of supplying them with some type of health insurance and a greater living wage, and of the chance for higher education for their children and continuing education for themselves. I am still refining my thoughts on this idea; it is this letter and others which helps me to refine them, and I would be happy to hear any thoughts of yours about my ideas. If you have any thoughts on this, please fill out the form directly below! |
| New Ideas on Charitable Giving |
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