What do the 10% overhead costs cover? Why arent you going to give that money out in scholarships?
Running this foundation will cost some money. We need to pay for a lawyer to help us incorporate, PO Boxes to receive mail, a 1-800 number for questions and support, website domain names and hosting services, labor to help us build and administer the website, basic office supplies we will need for administration as well as the costs of the labor for this administration. We also have to pay transaction fees with any financial institutions who handle our money. Needless to say, 10% is not a lot of money to do all of those things and still have money to help get the word out through advertisements and fundraisers. This is a very ambitious goal on our part; many charitable organizations cannot do this. We feel that when you give us money, you trust us to make sure it goes into the hands of the people who need it. Thats why were setting the bar so high for ourselves and only taking 10% to cover all of the costs of running this organization.
