Sports Toast

Athletes, like everyone else, use non-profits as a way to stay connected to their community as well as make connections that may help them in their personal and business lives. We cannot draw conclusions on an athlete’s contribution by simply looking at their non-profit, because they do so much to help raise funds with their appearances and recommendations. Rather than assess an athletes personal character, this serves more as an insight into how they handle their business. Many athletes are broke…and so are the causes supposedly supported by their non-profits.

The Boston Globe recently published an article on athletes and their non-profits. Some athletes, like Alex Rodriguez and Josh Beckett and Anquan Boldin, have high profile non-profit organizations that spend more than 75% of the money they raise on overhead, and staging and promoting fundraising events – and only 1-25% on actually funding causes and activities related to their foundation’s mission.

A good non-profit will spend at least 65%-75% on the cause and the rest on salaries, overhead, event management etc.

3 of the good ones highlighted were:

Athlete: Alex Smith – NFL Quarterback and 2005 1st overall pick
Nonprofit: Alex Smith Foundation
Mission: Helping foster teens attend college and transition to adulthood
Funds raised 2008-10: $839,244
Percent to charitable causes: 91%

Athlete: Carmelo Anthony – NBA player / Olympian
Nonprofit: Carmelo Anthony Foundation
Mission: Education and recreation
Funds raised 2008-10: $3.3 million
Percent to charitable causes: 87%

Athlete: Steve Young – NFL Quarterback / ESPN Analyst
Nonprofit: Forever Young Foundation for Children
Mission: Academic, athletic, and therapeutic support for children facing physical, emotional, and financial challenges
Funds raised 2008-10: $6.2 million
Percent to charitable causes: 75%