Strangeness at Army Charity
An Associated Press report
reveals odd things at a charity operated in association with the US Army.
FORT BLISS, Texas – As soldiers stream home from Iraq and Afghanistan, the biggest charity inside the U.S. military has been stockpiling tens of millions of dollars meant to help put returning fighters back on their feet, an Associated Press investigation shows.
Between 2003 and 2007 — as many military families dealt with long war deployments and increased numbers of home foreclosures — Army Emergency Relief grew into a $345 million behemoth. During those years, the charity packed away $117 million into its own reserves while spending just $64 million on direct aid, according to an AP analysis of its tax records.
They have invested heavily is the stock market. Their portfolio now is worth over $200 million. As a result, they have reserves that would last for 12 years, at their current rate of disbursement. A one- to three-year reserve is considered normal, among nonprofit charitable organizations.
What is even more disturbing is the fact that military officers have been pressuring soldiers to contribute, even though that practice is forbidden. It would seem to be conduct unbecoming to an officer.
posted by : Joseph j7uy5