China Youth Care Foundation's 2005 annual report showed total donations of only RMB8208 that year, which has caused one contributor to question the use of his company's donations.
Cai Xiao, a principal of Zhejiang University Bokang Biological Technology Company, says his company alone donated RMB100000 to CYCF in 2005, so he is confused why the organization had such a low amount on its books for donations.
In response, CYCF says that the money donated by Bokang is classified as a management fee, and not a donation. CYCF says it had a cash flow of over RMB620,000, though it announced that only RMB8208 had been raised specifically as donations.
In addition, according to the report, most of the money accepted by CYCF has been used by the foundation itself, rather than on social causes.
This has cuased much doubt in local media, who are calling on further transparency for the organization. One commentator in local media says some organizations and foundations in China act more like rest homes for retired cadres who are the principals of those foundations.
Founded in 2004, CYCF is a public welfare foundation which aims to provide better conditions to the development of the youth in China.
