Belfast Telegraph

Thursday 28 August 2014

Charity giving is far from progressive

As a long time member of our ‘home grown’ Progressive Building Society, I perused their financial statement for 2009 with my annual scepticism.

Their profit results over the last seven years have been solid, with total pre-tax profits of £41,200,000.

Part of their Mission Statement and Values states “a continuing commitment to local charities and voluntary organisations through our Community Awards scheme”.

However, their annual average charity donation over this period is £18,500 against the average annual profit of £5.88 million or a mere 0.32% of pre tax profit.

I also note that this mutual organisation would give annually to charity the equivalent of two weeks combined income of the top three earners.

In this case charity does indeed start (and stays) at home.

DONALD GREGORY

North Belfast

COMMENT RULES: Comments that are judged to be defamatory, abusive or in bad taste are not acceptable and contributors who consistently fall below certain criteria will be permanently blacklisted. The moderator will not enter into debate with individual contributors and the moderator’s decision is final. It is Belfast Telegraph policy to close comments on court cases, tribunals and active legal investigations. We may also close comments on articles which are being targeted for abuse. Problems with commenting? customercare@belfasttelegraph.co.uk

Latest News

Latest Sport

Latest Showbiz