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A Reader Wrote to Request Info
Hi Mr. Woo, Could you share how donations to 80-20 National are used - how much
goes toward fundraising, political lobbying, marketing, education, etc? I'm not in a
position to donate a lot, but would like to know more how donations are used. I'd
like to help spread the word as well about the organization. Thanks for the work
you do. Fenny
MY ANSWERS: How Your Money Was Spent?
80-20 is just about the most penny pinching, yet dollar wise organization. We'll prove this point to you here.
80-20 has 7 Board members, all volunteers. They serve two orgs.: 80-20 Educational Foundation (EF), & 80-20 AsAm Empowerment PAC (PAC).
Most orgs. have meeting, travel & meals expenses. 80-20 has practically none. For almost a decade, we held electronic meetings. In fundraising, most orgs. incur 10% to 15% of the money raised on overhead. 80-20 incurred none! We raise funds thru e-mails only.
80-20's Board has a noble tradition. When we raise funds from YOU, we raise it from Board members first. In our recent SELF II campaign (Self Empowerment Longterm Fundraising II), 3 of the 7 Board members pledged $10,000 per year for 5 years, while the remaining 4 also donated until they hurt, BEFORE a penny was raised from YOU.
To verify my words, please click on 1 (2012 -2017) and 2 (2018-19) to find our IRS tax filings from 2012 to 2019.
Our annual expenditure nowadays ranges from $140K to $200K, depending on the number and nature of special projects we'll hold in a year. The following are fixtures:
a. Salaries & compensation for interns/contractors $95,000
b. Grants to like-minded orgs e.g. SFFA $10,000 to $20,000
c. Internet Technology and communication $15,000 to $20,000
d. Special projects e.g. political campaigns & outreach 0 to $30,000
e. Others or miscellaneous $20,000 to $35,000
How much YOU've Donated to 80-20
Thanks to all of you, we've served and prospered. 80-20 has raised money from AsAms only, because we want YOU to be our only boss! In the real world, he who donates has a say.
We've raised $ 4,162,883 for EF since 2013. In addition, we've raised
$112,000 for our PAC in the last 3 years. The names & amounts of all EF donations are seen in 1. The names & amounts of all PAC donations are seen in item 5 of 2.
80-20's Asset which is really YOUR Asset
Your asset was only $0.2 million in 2012, it is now $5 million - a 25 fold
jump in 9 years!
LPL Financial: $4.63 million
Chase Bank Account: $0.23
Checks on hand: $0.06
TOTAL: $5.06 million
From 2013 to today, 80-20 has raised about $4.23 million only, while spending about $1 million during that period. NOTE, however, our asset has grown to $5 million. It was made possible by wise investment decisions by 80-20's Board and excellent financial advice from Charles Zhang, a former Board member.
Hopefully, our 22 years of tireless toiling has proved to our community that 80-20 is not only penny pinching but also dollar wise! That is, not to mention our unmatched political courage & knowhow, and our devotion to protect our community's rights.
HowYOUR $5 million will Impact OUR FUTURE?
OUR HOPE: Our community has realized that 80-20 is our best bet to become the AsAm AIPAC, having the same level of political clout but focusing on making AsAms equal citizens only. The $5 million will be the seed money to build a world-class AsAm political organization. The wealthy AsAms MUST BE more involved. Will Dominic Ng's donation of $50K last week, implying possible similar donations in each future year, be the first of hundreds of wealthy AsAms to donate?
OUR FEAR: The old war horses of 80-20 will fade away, without fulfilling their dream. Our wonderful remaining Board members, try as they may, fail also. YOUR $5 million will be spent 0.2 million each year, doing some good for our community, until $5 million is used up. AsAms will remain 2nd class citizens, because our community doesn't have the political clout. In America, having
power is soooooooo important!
S. B. Woo
President and a volunteer for the past 22 years
80-20 Educational Foundation, Inc, a 501 C-3 organization,
Lieutenant Governor of Delaware (1985-89)
PS: We gratefully acknowledge all donors including
S.K. and Winnie Liu, Walnut Creek, CA: $10,000.00