The Boston Globe has published an excellent exposé about professional athletes’ charitable foundations, and (surprise surprise) it seems that a number of these foundations don’t actually send much money to charity. The piece begins with a look at the Josh Beckett Foundation, with only 37 cents of each dollar raised going toward its mission to “improve the health and well-being of children.”
A-Rod’s taking this 1-Percenter thing too far!
Thirty-seven cents isn’t much. The standard for reputable organizations is between 65 and 75 cents. But 37 cents is princely compared to this:
A foundation started by New York Yankees third baseman Alex Rodriguez gave only 1 percent of proceeds to charity during its first year of operation in 2006, then stopped submitting mandatory financial reports to the IRS and was stripped of its tax-exempt status. Yet the group’s website still tells visitors the A-Rod Family Foundation is a nonprofit organization.
l mean, you hate to pile on a guy who’s already got plenty of problems. But c’mon, man. You can’t even get this one right?
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