Alex Rodriguez's Charity Donated Only 1% of Proceeds

[ShootSpeeders]

I don't know why i posted this since everyone knows all charities are rackets.

Alex Rodriguez's Charity Donated Only 1% of Proceeds

26 Feb 2013
A nonprofit and tax-exempt charity started by Alex Rodriguez gave only 1 percent of proceeds to charity in 2006 and is perhaps the most egregious example of athlete-run charities that have fallen far short of what is considered standard for nonprofit organizations.
The Boston Globe examined records of 50 nonprofit charities started by athletes and found give "far less than the 65 to 75 cents" on the dollar "that nonprofit specialists say is an acceptable minimum."
The report found Rodriguez's foundation, A-Rod Family Foundation, only "gave 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."

In 2006, the A-Rod Family Foundation raised $403,862, but IRS records revealed the "foundation gave $5,000 to Jay-Z’s Shawn Carter Scholarship Fund and $90 to a Little League Baseball club in Miami" and not much more to other groups.

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