MONEY FOR NOTHING

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FYI: Less than one-third of the cash raised by the 588 telemarketers registered to solicit contributions in New York State actually went to the charities for which they were working in 2001, according to the state attorney general. The AG’s annual report on telemarketing shows that about $110 million of the $184.7 million raised over the state’s phone lines actually went into the telemarketing companies’ coffers. Only a fifth of the companies passed on more than half of the funds to their clients, and a mere four companies handed over more than 90 percent. [1/2/03]