Charging for charity – the tax exempt College of Universal Medicine’s first annual evasion statementPosted: May 14, 2014
Until recently, charities in Australia could raise and spend money without accounting to anyone. This year, the newly formed Australian Not for Profit and Charity Commission required them to submit an Annual Information Statement. The College of Universal Medicine surpassed itself by also forwarding its audited accounts. The information tells us the College raised almost half a million dollars, spent nothing, and their charitable activities were merely marketing events for UM’s business. Typical of anything UniMed, their attempt at transparency raises more questions than it answers, including why the charity is talking about buying a school building, when the students have already paid for one.