troof wrote:
Does anybody else think it's ridiculous they started a foundation after the kid? He got eaten by a fukking gator. Not some rare unknown disease that needs money for research. Wonder what % of donation money the parents will keep for themselves.
Yes, everyone has to have a foundation these days. Pro ball sport athletes, race car drivers, celebrities, families of people who died, and even a few T&F athletes. I think that a lot of these foundations are simply vehicles to make the athlete or celebrity look good in the public eye: "They must care, aren't they sweet?"
And I agree that in many cases these seem to be designed to pay 6-figure salaries to family and friends to be executive directors, which is completely legal under IRS rules. Rake in the money and pay yourself. Many charities spend 15% or less on actual services, because you can legally spend whatever money is left after paying the staff on "educational" materials, which includes bulk mailing to seek more donations.