Kanye West's charity spends more than $500G annually, donates $0, report says

Discussion in 'Real Life Stories' started by greenmnster_, Feb 22, 2012.

  1. #1 greenmnster_, Feb 22, 2012
    Last edited by a moderator: Feb 22, 2012
    Kanye West's charity spends more than $500G annually, donates $0, report says

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    • Oct. 10: Kanye West visits the "Occupy Wall Street" protests in New York City. (AP)

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    \t\t\t \t\t Hip-hop superstar Kanye West's charity spent more than a half-million dollars in 2010 - but none of that money went to actual charitable causes, The Daily reported Tuesday.
    An analysis of federal Kanye West Foundation had expenditures totaling $572,383, with the majority going to salaries and other overhead expenses.


    Meanwhile, the charity gave nothing to charity that year. According to its tax return, West's foundation made precisely $0 in contributions, gifts and grants.
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    And this isn't the first time the Kanye West Foundation has given celebrity charities a bad rap.


    In 2009, it was slightly more frugal, spending $553,826 - but of that amount, just $583 went toward charitable endeavors.


    Nonprofit watchdog group Charity Navigator suggests no more than 15 percent of a charity's cash flow should go toward administration or overhead. The Better Business Bureau's Wise Giving Alliance recommends charities spend at least 65 percent of their total expenses on program activities.


    The Kanye West Foundation failed to satisfy either of those standards. The majority of the organization's expenses - $339,829 of it - was spent on salaries, wages and benefits.
    Another $111,250 went toward "professional fees," $56,920 on similarly ambiguous "other expenses," and $48,385 on "travel, conferences and meetings."


    "The IRS would be very interested in those expenses," said former IRS Exempt Organizations Division director Marc Owens, now a lawyer in Washington, D.C. "Sounds like they had a kind of a sloppy back office."


    West's foundation listed just one program in the "Direct Charitable Activities" section of its 2009 and 2010 tax returns - its now-shelved "Loop Dreams" initiative, which taught kids about music production at two schools and one community center in Los Angeles.
    Still, tax forms assert the program's expenses were "0." As in, no
    money was spent whatsoever.
    Unlike his "Watch the Throne" tour mate, Jay-Z - who gave his namesake charity just $6,431 of the reported $63 million he made in 2010 - West did contribute to his charity's bottom line.


    The rapper personally donated $88,501 to his foundation in 2010. His company, West Brands, chipped in another $35,000. The combined $123,501 was more than donations from the foundation's four other contributors combined.


    Still, it wasn't enough to keep the group's balance sheet intact. The charity had $418,948 in savings at the beginning of 2010, yet ended the year with just $29,090 in the bank.
    West shuttered the foundering foundation one month later.


    Its official Web page is no longer working, but its Facebook page is still up, and the foundation remains registered as a non-profit with the IRS.


    The foundation's former executive director Joseph Collins told The Daily the charity is "in the process of being dissolved."


    West's manager, Gabriel Tesoriero, did not respond to repeated requests for comment.
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    Read more: Kanye West's Charity Spends More Than $500G Annually, Donates $0, Report Says | Fox News


    DOUCHEBAG
     
  2. This makes me want to puke blood.
    Yeah I know its his money and everything,
    But why make a charitable organization and refuse to do anything charitable?!?!
    Its FUCKING INSANITY:mad:
     
  3. Kanye is THE BEST troll.

    "Hey, imma run a charity business, but we give nothing to charity... LOL"
     
  4. Knew I didnt like this piece of shit for some reason.

    Also this is why I never give money to charity. Most charities take in about 80% profit and only give away 20% to charity. they're all fuckin frauds.
     
  5. This "charity" sounds more like a vanity project from the crown prince of ego.

    I wonder what that money's really going on.
     

  6. I still give donations to LEGITIMATE charities (Goodwill)
    But never would I trust (especially now) some dip-shit, hip-hop celebrity to do something proper for humanity.
     
  7. I would investigate the people running the charity, not Kanye West. Although he should have kept a better eye on his own charity (so he is at least faulted here), but the article says he donated $88K to the charity. This tells me he wasn't involved with it, he just threw it some money now and then thinking it did good stuff.

    Hopefully, for Kayne West, this is true and nothing shadier on his part, I hope the IRS does investigate, seems like a good use of their time.
     
  8. I always knew this guy was a douche bag and always hated him. Friends gave me shit saying he changed and is for the people now. No. Once a scum bag, always a scum bag. This guy acts like he is the shit, i wouldnt even shake his hand for a pound of weed.

    And thats saying a lot for a stoner. fuck Kanye West and his grimmy, scum bag tactics.
     
  9. Heard about this on the radio this morning, I just shook my head, what a scum bag!
     
  10. no surprises here...
     
  11. The charity might be to give his friends a job can't judge him would set up the same thing but then I would actually give to people as well.
     

  12. i would shake his hand for a pound of bud...right after i rubbed my hand all over my wiener
     
  13. perfect example of the real purpose of charity.....makes the rich feel better and the poor feel dependent
     
  14. Kanye West is the greatest musician of all time
     
  15. Kanye West doesn't care about black people.
     
  16. Kayne West is el diablo
     
  17. anyone wanna donate to my charity? its called smoke out smokey
     
  18. motherfuckin' gay fish man.

    Jay Z too.
     
  19. ive always hated kanye. hes a little pussy
     

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