How Do We Decide Who To Accept Money From?
I’m excited to announce that the Yakezie Writing Contest Framework is now up on Yakezie.com! Several hours were spent this past rainy weekend formulating the plan and putting everything down in writing. Thanks to many suggestions from friends, family, and Members, we’ve now got the framework down for one of the most important initiatives of the Yakezie Network. Our goal is to not only provide financial assistance for youth in financial need, but also provide mentoring as well.
If we can combine the act of doing and giving, there’s no doubt in my mind we can make a bigger positive impact in the scholarship winner’s life.
100% PASS THROUGH RATE
100% of all our donations will go to a deserving individual every single month. We will start with a minimum of $500 a month for the next six months, and hopefully increase the monthly scholarship to $1,000 a month forever. A 100% donor-to-recipient pass-through rate is especially important as I’m constantly disappointed in the low pass-through rate of some organizations. If you donate $1 for example, did you know that often times 50 cents to 75 cents is eaten up by overhead? Just like big government, it’s so inefficient!
SPONSORSHIP OF YAKEZIE.COM
What we’ve decided to introduce is a Corporate Sponsorship opportunity for Yakezie.com and the Yakezie Scholarship where organizations can choose to be the main Yakezie Scholarship sponsor of the month, in which case we will name that month’s scholarship after the sponsor i.e. the “Amazon Yakezie Scholarship.” Alternatively, for those corporates who wish to be supporters but not main sponsors, we offer them an opportunity to participate and support Yakezie.com in a smaller way. We’ll recognize their contributions in a Sponsor Post and mention them on the submissions page and so forth.
The idea is that we give sponsors an opportunity to directly support Yakezie.com and at the same time, support the Yakezie Network’s initiatives of giving back to the community. Goodness knows we’ve spent hundreds and hundreds of hours to try and make Yakezie work.
It’s only been several hours since the post, and we’re pleased by the response of the blogging and advertising community. What we’re somewhat conflicted with is whether or not to accept sponsors whose products we’re not familiar with, or who we don’t endorse? At the end of the day, sponsors are an integral part of the online community, and if we are to donate the money to someone in need, doesn’t that justify our doubts?
Imagine a year from now, you receive a large $5,000 donation from a gang who is notorious for making money illegally e.g people trafficking and drugs. The gang leader tells you that he believes in the Yakezie Scholarship and its commitment to helping children from lower income communities succeed. He tells you that if he had some financial assistance and a mentor, maybe he wouldn’t have ended up on his current path. Maybe he could have fulfilled his lifelong dream of becoming a doctor. Alas, there is no way out for him as he knows too much.
Let’s say the winning applicant is a courageous boy with cancer, whose parents can no longer afford to pay for his hospital bills because the insurance company has stopped payment. Someday we will have universal health insurance, but not this day. The boy just needs a couple more night’s stay and medical treatment for his chances of survival to skyrocket from 50% to 85%. The cost of this extended stay is $5,000. Do we accept the gangster’s money in order to help save this boy’s life? Or, do we let the boy die because we take the moral high ground?
The example I provide is for illustrative purposes, but the dilemma is the same. If we are redistributing wealth from those who voluntarily want us to redistribute their wealth to someone in need through a scholarship, who are we to deny them? Please share your thoughts!