drew griffin will have that. first, there s one thing that ties together all these cases we found so far. last time, we told you about another charity called the montreal spca. canadian charity that helps abandoned cats and dogs. the charity needed money, so it entered into a deal with with an american private fund-raising company called quadriga art, to solicit donations. after three year, the montreal spca received about $13 million in donations. but despite all that money, they ve still ended up in the hole more than $4.5 million, owing money. the bills from that fund-raising company were so huge that nearly every penny, every dollar that came in went to pay those bills. now, the montreal spca is so in debt, quadriga art actually holds a lien on the group s animal shelter. but that s just the beginning. the manager who put together that deal and was fired he went to a new u.s.-based animal charity called spca international. remember that name. its signature program is bagh
shareholders to report to. they re a profit business, not nonprofit organizations, they want and need to make money. talk about eliminating debt programs and people get the cards on purpose. debt reward programs are going away, 30% decline. that s what s happening and this one annoys me the most because i love getting free stuff even though i know it s not free, i think it s free. clayton: right. i ll buy things just like get a little canvass bag sometimes, and you know. clayton: a tote bag. yeah, we do it, we all do it and buy a couple more things and i can get that bag. clayton: it s true. and other increases, wire transfer and safety deposit boxes and those are annoying, $15 fee to transfer money and doesn t cost them anything, it s digital, right? it s digital, but they do it. just like the airlines when i want to make the transfer on any kind of ticket that i have, costs me $150. banks are picking up on the same idea. they have somebody who has to do it, they have
my current business is a salon and my new business is environmentally based. due to the nature of my invention, i m curious how to approach investors and if i should apply for a 501 c 3 status. should he be a non-profit. if you go after 5013, you go after someone who needs the deductions. if you take money findividuals who will deduct it go to the non-profit route or otherwise, sub s, something like that. really straightforward. i think by the nature of the question, the individual is feeling, is that a marketing angle? is being a not-for-profit tied with environmental somehow going to help my cause whereas a lot of traditional investors want a for profit business because they need a return on their investment. unless it s for a non-deductible or deductible investment, i think you really need to stay with a regular structure.
we re focusing, like i was telling in telecommunication, financing and mining, retail. larry: do you have a favorite? that s a good question. larry: that s why i asked. one that have something to look at. that s my work. today my work has targets in mainly in all the foundations that are my biggest challenge. at this time of my life my challenge is to, using the foundations and some of the efforts of the companies, try to make changes in latin america. but by the profit business i am now focusing in real estate
mainly in all the foundations that are my biggest challenge. at this time of my life my challenge is to, using the foundations and some of the efforts of the companies, try to make changes in latin america. but by the profit business i am now focusing in real estate developments, but mainly mining. and the other areas of financing and telecommunications. i follow what is happening, but i am not in the operation. i am not following the day-to-day things. larry: did your father get to see your success? no. no, my father passed away when i was 13 years old.