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Charity Newsbeat

Tuesday, June 27, 2017

Yankee Stadium Charity Is Called Into Question

In the summer of 2006, when the Yankees broke ground on a gleaming new stadium in the South Bronx, they offered an olive branch to a community furious that more than 25 acres of treasured public parkland had been seized for the project. The Yankees created a charity, called the New Yankee Stadium Community Benefits Fund, which it intended to distribute almost $40 million in cash grants and sports equipment, along with 600,000 baseball tickets, to community organizations in the borough over four decades.

Ten years later, however, an examination of the fund’s public financial records and interviews with community members and a former administrator of the fund show that it has operated with little oversight or public accountability, neglecting those who live near the stadium and instead sending money to other, often wealthier parts of the Bronx that were not affected by the construction.

The fund also regularly donates to organizations with which it shares common board members. And although the Yankees provide $35,000 a year to cover operating expenses, the fund in 2011 began to allocate 10 percent of the grants it awards to cover its own “additional administrative costs.” Those costs have never been publicly explained.

Many Bronx organizations say they have benefited greatly from the fund. But they are generally not in neighborhoods around the stadium. Of the $6.8 million distributed by the fund between 2008 and 2015, the last year for which records are available, only 30 percent — $2 million — went to charities occupying the same ZIP code as Yankee Stadium or four bordering ZIP codes.

RoyalsRetro (AG#1F) Posted: June 27, 2017 at 12:51 PM | 1 comment(s)
  Beats: charity, yankees

Sunday, April 09, 2017

OTP 10 April 2017: More sports teams want in on 50-50 raffles

[Texas] lawmakers in 2015 approved a plan to let 10 professional sports teams in Texas hold … 50-50 raffles during sporting events, and voters also approved the plan.

[Team] officials said they were “very pleased” with the support they saw from Rangers fans during the first year of the Texas Two Split.

“We were able to raise significant funds to support Rangers Foundation programs, including the construction of the new Texas Rangers MLB Youth Academy at Mercy Street Sports Complex, presented by Toyota, as well as to support community initiatives like the Line of Duty Fund that supported the families of the Fallen Officers from July’s tragedy in Dallas,” said Karin Morris, executive director of the foundation.

I am never sure how much good these multiple layers of foundations and sponsored projects do for anybody.  And I’m not fond of that much vigorish.  But some aren’t as choosy, because even on a weeknight the Rangers tend to take in $15-$18K in this raffle, or about a dollar for every fan in the park. What does the BBTF collective think of 50-50 raffles, as public policy?

(As always, views expressed in the article lede and comments are the views of the individual commenters and the submitter of the article and do not represent the views of Baseball Think Factory or its owner.)

 

BDC Posted: April 09, 2017 at 08:34 PM | 1484 comment(s)
  Beats: charity, gambling, politics, rangers

 

 

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