You are right.  

Disposable income plays into it.  As does donor cynicism.

I recall during 9/11, as some of the charities in the US  were flooded with money from around the world, it was learned that some of the  salaried fundraisers and managers, by contract, get a percentage of all funds raised, and they made out like bandits from the surge in donated money.  

We look twice at all charities now, hoping that what we do have to give, is best spent.