STARKEY HEARING FOUNDATION
Rating: 1.5 stars 2 reviews
Location: 6700 Washington Ave S Eden Prairie MN 55344 USA
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1 person found this review helpful
They use donations to fund their for-profit business, Starkey Hearing Technologies. This should be considered a marketing arm of Starkey and NOT a charity. If he were being charitable, Bill Austin would purchase the best hearing aids available for these folks - not just hearing aids from his own company. I've heard rumors they charge the Foundation higher-than-market prices.
3 people found this review helpful
A major source of revenue for this organization is in the form of "donations" from people who receive hearing aids from them. The people receiving the hearing aids are told that they may deduct the amount of the donation from their taxes without consideration of the value of the hearing aids. This is tax fraud because the situation is a perfect example of a quid pro quo donation, in which the fair market value of what was received in exchange for the donation needs to be subtracted from the amount of the donation. They are well aware of what they are doing and the consequences of these actions and continue to operate in this manner. Also, take a look at how much money this organization is "donating" to other unrelated foundations. For example, the Elton John Aids Foundation has received approximately $1 million from them over the years that he has "volunteered" to play at their fundraisers. Also, under another conflict of interest situation, the majority of the expenses are for the purchase of hearing aids from the company that started the foundation, and not simply at the compan's cost, but a higher value, resulting in increased profit for the company.
I've personally experienced the results of this organization in...
Numerous accounts and stories from people that were given the forms to submit to the IRS, resulting in tax fraud. Also, review of Foundation's tax returns from several years.
If I had to make changes to this organization, I would...
Have them audited by the IRS and be forced to repay the millions of dollars that have been withheld from the state and federal governments as a result of their actions/deceit.