Charity Fund 'Sofi' Invests Money Like St. Joseph's Cathedral — Beautiful, But Not What It's For

The tax authority, with its usual enthusiasm, is evaluating charity fund 'Sofi's' right to maintain public benefit status, as it turns out that two million euros meant for the poor have been invested by the fund in bonds. This is about as logical as storing winter tires in St. Joseph's Roman Catholic Cathedral — technically it's possible, but not quite what it was intended for.

The Public Benefit Commission spotted this scheme immediately and recommended revoking the status, which isn't surprising. In Riga, such tricks might seem normal, but fortunately, people with common sense still work at the commission.

The fund's founders from 'Sun Finance Group' receive donations from their own companies — 'Extra Credit' donated 1.5 million, 'Lendiscore' another million. It's like playing football with yourself — technically it's a sport, but is it fair? Local accountant Jānis comments: 'We in Liepāja also sometimes make money go around, but at least through the right pockets.'

Fund manager Sindija Liepiņa explains that the money was invested 'safely and efficiently,' as recommended by their partner bank. Of course, banks will always recommend investing, because they profit from it. Tax authority representative Inese Bindemane points out that donations should be 'immediately available,' not hidden in bonds like Easter eggs in the garden.