One of Canada’s most reputed news source, The Toronto Star has reported Aga Khan Foundation for “lack of transparency” and as one of the charities which do not release their audited financial statements to the public and refused to provide them to an independent agency that evaluates charities. The report can be seen here:
Aga Khan Foundation is ‘ethically’ bound, if not legally
Charities are not legally bound to disclose their audited financial statements to the public, but it is considered ethical to do so because they take in public dollars, said Greg Thomson, director of research for charityintelligence.ca.
When charityintelligence.ca requested Canada Revenue Agency to dig up the The Aga Khan Foundation Canada (AKFC), it was revealed that Aga Khan Foundation had “enough cash-in-hand to operate for up to 8 years without raising even a single penny.”
This is a staggering amount of cash-in-hand, and something major to consider…
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