Kanye West’s Charity Only Donated $583 in Two Years! [Details]
Rucuss staffFebruary 24, 2012
Kanye West needs a new business manager.
West began a charity with the intention to give back to his community and people in need, but as it turns out it never happened. Mismanagement issues didn’t allow funds to be properly disbursed.
The Kanye West Foundation spent over a half a million dollars in 2010 but none of those resources were actually used for charitable causes, Fox News reports. According to the foundation’s 2010 tax return, the foundation had a total of $572,383.00 that went to salaries, benefits and other expenses. None of it went to contributions, gifts or grants that year.
The foundation spent $553,826 in 2009, but only $583 went to a charity. That money went to ‘Loop Dreams’ initiative, which taught kids about music productions at two schools and one community center in Los Angeles.
West did donate $88,501 to his foundation in 2010 and his company, West Brands, contributed another $35,000. But the combined $123,501 was more than donations from the foundation’s four other contributors combined.
Nonprofit watchdog group Charity Navigator suggests a charity usually utilize only 15% (or less) of funding for overhead. But Kanye’s charity clearly followed their own rules. So it’s no surprise that Kanye shut down its website. But the foundation remains registered as a non-profit with the IRS.
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