Baseball Primer Newsblog
— The Best News Links from the Baseball Newsstand
Monday, February 25, 2013
A decent read, if only scratching the surface of the issue. I’ve always been curious just how much money raised goes to charities directly, versus going to fund activities which in turn help the charity, versus going to fund “administrative costs”.
In some cases athlete charitable foundations are accomplishing a lot, sometimes after very non-productive starts. In other cases, calling them charities is being… er, charitable.
...just 37 cents of every dollar raised by the Josh Beckett Foundation went toward its mission to “improve the health and well-being of children.” That’s far less than the 65 to 75 cents that nonprofit specialists say is an acceptable minimum.
In fact, many nonprofits that help burnish the reputations of pro athletes fall well short of those standards, the Globe review found. Among the 50 nonprofits examined, nearly half spent less than 65 percent of revenues on charitable programs and donations.
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.
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