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Can a Park Have Too Much Money? a Watchdog Group Says Friends of the Public Garden Is Hoarding Donations, but the Charity Says It's Being Safe

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Can a Park Have Too Much Money? a Watchdog Group Says Friends of the Public Garden Is Hoarding Donations, but the Charity Says It's Being Safe THIS STORY HAS BEEN FORMATTED FOR EASY PRINTING CONSUMER BEAT Can a park have too much money? A watchdog group says Friends of the Public Garden is hoarding donations, but the charity says it's being safe By Bruce Mohl, Globe Staff | August 13, 2006 Just as the Friends of the Public Garden is about to broaden its campaign to raise $6.5 million for the preservation of Boston Common, the Public Garden, and the Commonwealth Avenue mall, a watchdog group is saying the charity already has more money than it needs. Charity Navigator, a New Jersey nonprofit that analyzes the financial underpinnings of charities, says the Friends of the Public Garden is hoarding donors' money. The watchdog group says charities should build endowments and save for tough times, but the Friends of the Public Garden has enough working capital, essentially cash on hand, to stay in business close to 15 years, even if it doesn't raise another penny. The group recommends that charities have at least six months to a year of working capital. Tax filings of the Friends of the Public Garden indicate its revenue more than doubled to $1.9 million between 2001 and 2004, the latest year available, while spending on programs plunged 40 percent to $215,000. As of Aug. 31, 2004, the Friends of the Public Garden had $6.8 million in net assets, up 59 percent from 2002. ``They're raising more and more and spending less and less," said Trent Stamp , executive director of Charity Navigator. ``It's something donors should know about." Henry Lee , the president and guiding spirit of the Friends of the Public Garden for the last 36 years, makes no apologies for the charity's conservative financial philosophy. ``We're in this for the long term," Lee said. ``We're trying to set up something that will protect the parks for the future. I think we're doing the right thing. All this is for the parks, not for us." Only three of the 5,000 charities analyzed by Charity Navigator have more money stockpiled than the Friends of the Public Garden. The watchdog group says the average charity has enough cash on hand to stay in business 1.5 years without raising additional money. The Island Alliance, which raises money for the Boston Harbor Islands, could last 3.8 years with the cash it has on hand, according to Charity Navigator. The Massachusetts Horticultural Society, which has struggled to raise funds for parks along the Rose Fitzgerald Kennedy Greenway, has eight months of working capital. The Friends group works closely with Boston's Parks and Recreation Department to maintain the city's most celebrated public spaces. The city spends about $1.2 million a year on the three parks, while the Friends of the Public Garden supplements that effort by funding projects to maintain the trees, sculptures, and turf. For example, the charity is helping to finance the repair of the Public Garden's Ether Monument, which commemorates the development of anesthesia at Massachusetts General Hospital. The Friends group hires specialists who care for the trees and bushes. It also is working with the Massachusetts Horticultural Society to develop disease-resistant elms. ``They help us with character-defining features," said Mary Hines , a spokeswoman for the Boston Parks and Recreation Department. ``If they continue to do what they're doing now, Boston will continue to be a beautiful place." While the charity's focus is trees, sculpture, and grass, it also takes on special projects. It picked up the salaries of park rangers for two years until the city could once again afford to include the cost in its budget. It hosts the Duckling Parade in May, pays for some children's skating lessons during the winter on the Frog Pond, and recently funded a study of long-range needs for the three parks. Until fairly recently, the Friends of the Public Garden had no staff. But it now has a part-time fund-raiser and a full-time executive director. It has raised most of its money from neighbors of the three parks, but this fall the charity plans to begin reaching out to a much bigger audience, the users of the parks. ``We want to make sure that they understand the value of this resource," said Nichole Cirillo , the group's executive director. Cirillo said the analysis by Charity Navigator offers an incomplete picture of the Friends of the Public Garden. She acknowledged the Friends group is focused more on raising money now, trying to build up its reserves to about $10.5 million. As the fund-raising campaign winds down over the next three years, she said the group hopes to increase spending. ``We're not the American Cancer Society," Cirillo said. ``We're not a program-driven organization. What we do is make sure these parks are around for generations to come. This is an endowment-driven charity." Lee and Cirillo said the Charity Navigator critique fails to take into account that trees, sculptures, and grass are items that need expensive care year after year. ``It's like taking care of your teeth," Cirillo said. ``You've got to go to the dentist regularly for checkups or you'll be back to square one." Lee said he has watched over the years as many other charities that failed to prepare for lean times have fallen by the wayside. He noted the Friends of the Public Garden began sponsoring the Duckling Parade after the charity that used to run the event, the Historic Neighborhoods Foundation, went out of business. ``They could say I've erred on the side of caution, but we're still here," Lee said. Staples vouchers Staples Inc. has selected Sept. 25 as the day it will hand out $7.50 vouchers as part of a settlement resolving charges that it violated the state's item-pricing regulation. The first 1,200 shoppers age 15 or older at each of the chain's 64 Massachusetts stores will receive the vouchers, which can be used to buy anything except gift cards, postage stamps, or store service. No minimum purchase is required, but no change will be returned for items purchased costing less than $7.50. Staples denied any wrongdoing but agreed to the settlement to resolve the issue. It's the first item-pricing settlement where consumers will receive a direct benefit. In previous cases involving Home Depot, Wal-Mart, and Target, settlement money went to various groups or causes. Bruce Mohl can be reached at [email protected]. © Copyright 2006 The New York Times Company .
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