Monday, December 08, 2008

It's the thought that counts right?

I hope that this does not come as a surprise to anyone but it seems as though celebrity charities might not be all that helpful.

"Welcome to a world in which it's not uncommon for a celebrity's pet foundation to have greater administrative costs than the amount of money it grants. Tax records from Tyra Banks' TZone Foundation, for instance, show that in 2006 it paid US$35,000 in salaries, while distributing only US$32,000 in grants. A spokesperson for Tyra Banks said that the tax form was filled out incorrectly and that the foundation did not pay board members salaries.

The Justin Timberlake Foundation, meanwhile, spent US$146,000 on operating costs in 2006, according to tax records. This included US$10,000 on travel, and US$40,000 on loosely defined "other services." At the same time, it distributed US$32,500, with US$30,000 of that going to the Jane Goodall Institute. No one at the foundation returned calls for comment despite multiple attempts."
(Click here for the article.)

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