Bill & Melinda Gates Foundation
Bill & Melinda Gates Foundation, a Non-Profit Organisation (NPOs) founded by Bill and Melinda Gates back in 2008. Well known for the "Venturing Philanthropy" where business practices are applied for social purposes to ensure sustainability and efficiency.
Given the size and geographic coverage of it's operations, we are surprised to find that the audited financial report are reporting very healthy operating costs. ( approximately only 4% of it's total expenditure. It was also surprising when we look into the projects which the foundation has been implementing, taking for example the sanitary issue featured in documentary "Inside Bill's Brain", by Netflix.
Instead of pouring money into building sewer processing plants which is too expensive for developing countries to run, the foundation opted to fund programmes like "Reinvent The Toilet Challenge" to spur and speed up the creation of toilets that are do not depend on sewage plants and is self sufficient on water and electricity. This programme was also mentioned on World Health Organisation (WHO) in around 2011 HERE.
Donations are making up less than 10% of the annual expenditure of the foundation while the rest are paid for from the trust fund which was created by Mr & Mrs Gates to fund the foundation. Though our donations are small, we still hope to chip in a little to show our support to the foundation's approach towards addressing issues in a practical and sustainable manner.
Sneak peak from "Inside Bill's Brain"
We wish to pledge our support to organisations who are genuine and sincere in supporting the less fortunate in a sustainable and practical manner. There were some negative news in the early 2020 which suggested the foundation's role as a tax evasion vehicle for Bill Gate's massive wealth. Speculation estimates tax evasion of approximately 23 billion while 50 billion was poured into the foundation every year to run programmes in similar manner of "Reinvent The Toilet Challenge". Though we are not a fan for Bill Gates or Microsoft, our verdict is, well done, keep it up 😂
Bill & Melinda Gates Foundation Audited Financial Statements