Giving Back

Business Jet Traveler » October 2012
Giving Back
Giving Back
Tuesday, November 13, 2012 - 10:15am

BJT readers–who represent one of the highest-net-worth magazine audiences anywhere–clearly have the means to contribute to a better world. But what’s the best way to do that? It’s not always easy to determine which charities are most reputable and efficient and which will make the best use of your donations. As such, we’ve decided to spotlight one deserving organization per issue. All of the ones we’ll feature have received a four-star overall rating from Charity Navigator (charitynavigator.org), which evaluates philanthropic institutions based on their finances, accountability and transparency.

The Children’s Aid Society (www.childrensaidsociety.org) has been helping families cope with poverty in New York City neighborhoods since 1853. Children’s Aid caring begins even before birth, through prenatal counseling and assistance, and continues through the high school years with college-prep and job-training programs.

The charity addresses all aspects of a child’s development, from health care and academics to sports and the arts. And because stable children live in stable families, the organization offers housing assistance and domestic-violence counseling. The first free school-lunch program, the first industrial school for poor children, the first daycare program for working mothers and the first visiting nurse service were all Children’s Aid initiatives.

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““CEOs go to their vacation homes just after companies report favorable news, and CEOs return to headquarters right before subsequent news is released. More good news is released when CEOs are back at work, and CEOs appear not to leave headquarters at all if a firm has adverse news to disclose. When CEOs are away from the office, stock prices behave quietly with sharply lower volatility. Volatility increases immediately when CEOs return to work.” —David Yermack, a New York University finance professor, whose recently released study shows a correlation between when CEOs take their private jets on vacation and movements in their companies’ stock price ”

-David Yermack