The transparency criticism has been around since the PFS Foundation was founded in 2012/13 and I struggle to understand it. We’ll say the same thing as when people used to ask for transparency from the PFSF.As a registered charity in any major country globally, you are required to submit a financial report and audit report annually. Both are publicly available on charity databases, in the case of PFS Network, it’s on the Australian Charities & Nonprofits Commission website and takes about 2 minutes to look up.
(My response ) Sorry, My friend and I can not find the site of the charity database. Why not just provide the link to the database on PFSN webpage to make is easier for everyone to find ?
I’ve seen second hand reports of some absolutely laughable accusations about my situation personally, asking whether I’m pocketing funds raised for personal gain.
( my response) Why are these considered laughable accusations? With all due respect, the PFSN donors should just accept your word on everything? You seem very sensitive and take it personal when people are asking to see a record of finances?
Firstly, our charity would be deregistered as soon as an auditor caught wind of this. It would also be illegal and I’d receive either a fine or jail time, or both. Secondly, I work full-time in a high-paying role for a tech company, so I have absolutely no need to set up a personal piggy bank.
( my response) You think theft is OK if it does not exceed a persons salary income? I don’t mean to accuse you of stealing, just asking for transparency in a respectful way. It isn’t reassuring to know that you make a “high paying tech salary”. A basic level financial transparency in this operation would be reassuring.
In our case, the funds we’ve raised are also publicly available on our website: pfsnetwork.org/donate 6. We regularly provide mailing list subscribers updates about funds raised and current projects, and we go into more detail on quarterly webinars.
( my response) For a charity, the record of funds spent is as important as that which are raised. The allocation of those funds to those same projects of interest would we be useful as well. Trying to pass off your powerpoint on money raised is sufficient ?
These webinars are open for anyone to attend yet we tend to see the same 15-20 faces every quarter with little/no attendance from those criticising our work.
( my response) I am not criticizing your efforts, however there should be access to obtain legit information at anytime. We should be able to obtain studies showing the formal protocols at any time or read “ use of proceeds” document that outlines how much money is set aside for research projects and how much, if at all, goes to administrative expense, such as web-hosting fees, annual tax returns, etc? Can you share that document with the rest of us?
Rig22:
Also, if he is so well paid and dedicated to this effort, has he himself donated any money to the PFSN? If so, how much, and can he verify it?
Lol.
( my response) Why is this funny? You know what everyone is donating, but we have no idea what you are donating to the fund… Again… transparency! Just like when investors want to know if Warren Buffet buys back stock within his own company.
I really struggle to understand how much more transparency we could provide and frankly, the argument feels like a thinly-veiled excuse for those who don’t support our work or organisation.
( my response) I appreciate you want to be transparent so please share with the PFSN group …
(1) I ask to share a copy PFSN donors of the OFFICIAL protocol, i.e., the one on the letterhead of the institution that’s conducting the study–including the name of the chief researcher and confirmation that the study has received sign-off from the institution in the form of what’s called “IRB approval.” If this study is really going forward, all that will exist.
(2) Why, according to the Australian website that houses details of local nonprofits, it appears as if one of the other board members is a RELATIVE of Mitch’s. Nepotism does not make for good transparency.
(3) Does the PFSN intend for its first study to be published in a reputable, peer-reviewed journal? Or are is PFSN hiring this researcher just to produce and hand over a report directly to you? If the latter, PFSN will have a hard time getting any institution to be involved in any followup research, because non-peer-reviewed research counts for practically nothing in the reputable scientific community.
I look forward to learning more!