Kanye West Foundation spent $572k, gave away $0
Instead of following the latest developments in Lindsay Lohan's legal woes (she got a good progress report in court Wednesday, okay?), let's talk about how Kanye West's charity apparently doesn't give to, you know, charity. Careful, Kanye, that kind of stuff got Wyclef Jean in big trouble.
Fox News says in the Kanye West Foundation's 2010 tax filing, it reported $572,383 inexpenditures, mostly for overhead and salaries. As far as how much it gave away, that sum totalled zero. That's right, $0. That's down from even 2009, when the foundation spent $553,826 and gave away a grand total of $583.
The charity only has one program, and that's been shut down -- the Loop Dreams initiative, which taught kids about music production in two L.A. schools and a community center, Fox says. West's total contribution to his own charity totalled $123, 501, more than the group's other four contributors all put together. Performing at the Victoria's Secret Fashion Show is expensive!
The foundation is closed -- it only had $29,090 in funds at the end of 2010 -- but it's still listed as a non-profit with the IRS. But hey, don't fault Kanye too much: Fox points out his pal Jay-Z, who made $63 million in that same year, only gave away $6,431.
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