Question of the Day: Day 102
If you were given a gift of $1,000,000 (one million dollars) on the condition that you HAD to donate 100% of it to charity - who would you give the money to and why?
posted by Michelle at 6:55 AM
We are looking for answers to some hard questions as we dig deep inside and explore our own core values and how that guides not just our own lives but the very world that we live in. These questions will be asked to a group of high school students but we would also like to hear from the world at large. While we hope to keep this forum wide open we do reserve the right to delete responses that we find to be offensive or combative in nature. Thank you for participating with us.
posted by Michelle at 6:55 AM
8 Comments:
I would set up a secure, long term account with the million that would generate somewhere around 800,000 per year in profits (interest) - 8% isn't too hard to manage on a sum that size. The profits would be used as scholarships for students who work hard and need the financial help.
Forgot the why part - seems pretty obvious to me.
Educated people who have had to work hard to get that education understand what they are working for, need what they are working for, and use it well when they get it. Many people I have known who came from poor or difficult countries, homes, whatever became very dedicated to making a difference in the world once they got free of the things that were holding them back. Well, I guess that's true for everyone who manages to get free of their problems, isn't it?
I think I would take roughly half of the money and distribute it to people that I know personally who are having rough times at the moment or who have special challanges in their lives. This way I would know exactly where the money was going and that it was being used by people with a true need ( as opposed to paying somebody's salary or administrative costs). The rest I would invest, using the returns year to year in just the same way.
B's got a great idea! Keep money generating as a result of it. But if I couldn't do that, I'd choose three deserving, and I mean REALLY deserving, families and purchase a home for them.
I think B does have a pretty smart idea. I wish Id thought of that. I would split it between scholarships, money for 'blue sky' research, and scholarships. Blue sky research is important, mainly cos its not really being done much, and this is where the really new ideas come from. Its research that doesn't have an obvious outcome at the end like a new drug, or more oil, or a new weapon etc. So the end results are unpredictable and govts are unwilling to fund it, and companies even less willing. The scholarships are obvious - to educate people who can't afford it.
I would give the money to my brothers, and sisters including
my niece. The reason why I would give them the money because all my
life they have helped me ,well excpted my little stister and niece. I would do anything for my family,including my close friends.
I'd probably do as B did, and set up a fund that generates more charitable dollars. I'd probably have it assigned either as a scholarship or as seed money for small businesses on Indian reservations.
I like the idea of having the money continue to earn so that more can be shared.
I'd definitely use about half of the funds to provide educational opportunities to as many people as I could.
The other half would be to finance small business ventures of indigenous peoples and villages in poverty stricken areas. I would hope that they would also put some money back into their villages (education, irrigation, agriculture, etc.).
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