Charity Post: YG rolling in dough; donates money to children <3

[bunica1990.livejournal.com]

Yang Hyun Suk to donate $922,000 USD to help children in need

It’s been revealed that YG Entertainment‘s CEO Yang Hyun Suk will be donating around 1 billion KRW (approximately $922,000 USD) to help children in need.

As YG Entertainment had a very fruitful 2012, the company decided to pay dividends to its stockholders at around 300 won per share (approximately $0.28). As Yang Hyun Suk is the largest stockholder of YG Entertainment, holding around 3.6 million shares, the dividend of 300 won per share amounts to nearly 1 billion KRW.

A representative from YG Entertainment revealed, “From the start, CEO Yang Hyun Suk had been planning to donate the money he made from stocks. He thinks of it as the result of people showing love to YG Entertainment and its artists, so he’ll keep donating. With the donations, he’s going to help children that need surgery but don’t have the money. He hasn’t decided on any specifics, but he’s personally looking through people who need help, and he’s going to hand the money himself instead of giving it to a charity.”

Looks like making music isn’t the only thing the CEO is good at.

Sources: allkpop and dailian



That's actually very nice of him.

So if you had the money, Omona, to which charities would you donate? :)

Comments

[imienazwisko.livejournal.com]

Idk about other European countries, but in Poland every year you can donate 1% of your taxes to one charity chosen by you. It's not a lot of money but some of the biggest charities here are able to get a lot of much needed money from this.
I'm not sure about this, but I heard they even changed the rules recently that if someone forgot to do it, someone in tax office randomly picks a charity so the 1% doesn't get wasted.
My mom always donates to a really cool charity that helps people with cancer or whose relatives/friends are suffering from it, esp women. She received lot of help from that charity and that's one of the many ways she uses to pay back :)
When I get a job one day I think I'll be donating like 10% of my earnings each month. Good things are good things and there's never enough of them. Also I think it's kinda selfish (and naive too) of me to think this way, but if you are a good person that helps others, once you are in trouble you'll also receive some help... Or if not, you're not the one to blame tbh.

[mjspice.livejournal.com]

Ah...I guess good for them. :/

[asnindie.livejournal.com]

That's a wonderful thing to do.

I give some money to Oxfam but recently I really want to give money to Centres that help Homeless children and young adults. I've been reading alot about human trafficking increasing (even in the UK) due to the economic crisis and it breaks my heart. Talk about forgetting people.

[annhh.livejournal.com]

same

[uledy.livejournal.com]

So if you had the money, Omona, to which charities would you donate?

The uledy Student Loan Repayment Fund.

For real :/

But, I'd probably donate to an organization that does policy work or community organizing because those organizations often create a more lasting effect on populations I'm invested in. They also facilitate community self-sufficiency, which is really important for long-term change. Throwing money at people won't really solve any problems or sustain their temporary relief. People need resources, advocates, and opportunities.

[konichiwacobra.livejournal.com]

I'd donate to the Red Cross. They do so much disaster relief work. They helped my family after Katrina, and they've helped some of my friends after the tornado a few weeks ago.

[zombiechick815.livejournal.com]

That's awesome that he did that!

I'm not sure what charity I would donate to, maybe one for Early Childhood Education since that's my field of study.

[johnnyquest89.livejournal.com]

So if you had the money, Omona, to which charities would you donate?

None, too many times have I seen sketchy situations from them. Would be better off directly aiding the peoples I want to help.

[bunica1990.livejournal.com]

There was a similar issue with an orphanage me and some former classmates donated to a couple of years ago :(

[johnnyquest89.livejournal.com]

happened once to me, and seen plenty others. even on small scale shit like them kpop donate for idols stuff that have people skimming off the top etc.

[cast-no-shadow0.livejournal.com]

I don't know what country you're in, but that isn't necessarily true, at least in the U.S. Non-profits have to be transparent in order to keep their tax-exempt status. So if you do your homework and check them out on a site like Guidestar, you can see their actual tax-form and how they spend their money. Giving directly to those in need can be OK sometimes, but it doesn't always get used in the right ways or go through the proper controls. Also, you won't get tax credit if it's not a 501c3. :)

/long post from someone who knows too many nonprofits who struggle with getting donations because of misconceptions

[johnnyquest89.livejournal.com]

I'm from the US and thank you for the info. I am still settled on if I'm going to make a charitable donation it will be by me directly to the affected.

[unlickdbearwhlp.livejournal.com]

I would love to be in a stable enough financial situation where I could foster children. Really foster them. To me, the main point of that program is about taking care of someone's child while they get their shit together (though many people foster with the intent to adopt), and I'd like to be a part of that process too, which is expensive. I remember reading about an older woman who gets involved in the parents' recovery, and makes sure the kids are in therapy. If we're talking something like addiction.

Most of my charity would involve youth, or the elderly.

[lishalishalisha.livejournal.com]

YG, why you do this ㅠㅠ
First, I wanna punch you because "lol, wut r gurl groups" antics with this new one and 2NE1 and everything, but then you go and do something really awesome.
(」゜ロ゜)」

Also, Kiva has been great, also would love to donate money to anything helping human trafficking and domestic violence victims.

[21banged.livejournal.com]

Ugh YG, why do you always make it so hard to hate you?! I love that you're donating to charity, but please have mercy and give to 2NE1 fans too ;A;

[falling-empress.livejournal.com]

Like other people mentioned, I prefer giving directly. One of my teachers in elementary school taught in Honduras during the summer. We donated some leftover money from a cookbook we created/sold in our GT class and she bought a small school of children new shoes with less than $50. She took pics and showed us all the kids, and the next year our whole school raised money for them to build a new school. It was an amazing experience...I wish there were more direct ways to help out like that...too many middlemen profiting from donations and unnecessary advertisement.

[pon-pon-pink.livejournal.com]

first i need money to pay off my student loans. but if i could donate i'd do it like YG and give directly. i've heard about to much shit happeneng with donations. I used to help the Maltesers International collect clothes, which was always fun and i knew where the stuff would end up. sadly i don't have time right now to do that anymore.

[supplanter.livejournal.com]

I "donate" to some civil liberties/political action groups and campaigns... and planned parenthood... but those don't really count as charitable (or they aren't tax-deductible, anyway, not that I was looking for it). There aren't causes that are specifically dear to my heart right now, so helping groups that try to do some good in the world (or in my country) on a policy level will have to do.

[sub-divided.livejournal.com]

Yeah, same.

[cast-no-shadow0.livejournal.com]

OK, I wrote a really long comment and it disappeared. :( I'll try again.

I give to several nonprofits, from little amounts when they ask at the checkout to larger fundraising campaigns. The children's hospital, museums, and youth services are my faves. I wish I could give more, but rent and student loans make up most of my budget.

I understand that people want to give directly to the people who need it, but you have to be careful when doing that. I'm not sure about SK, but in the U.S., nonprofits have to be accountable with their funds. What they spend their money on is public information available on their tax forms on sites like Guidestar. If you do your homework, you'll know what you're giving your money to and how they will spend it. When you donate to individuals who aren't prepared or setup to receive money (supplies are a different story usually), that same accountability and transparency is not there. It can be bad for everyone. As long as you know the nonprofit you're giving to, you'll be confident with how they're spending your money. And you get tax credits!

OK, I'll stop now. I'm very passionate about supporting nonprofits and helping people. Too many people have misconceptions and misunderstandings about nonprofits, and the overwhelming majority of them are more than deserving of your time and money and shouldn't be overlooked.