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SALT LAKE CITY (AP) -- Well-intentioned NBA players who set up charitable foundations don't always dole out as much as expected because of problems including ineffective management and exorbitant fundraisers that cost more to put together than what they bring in, according to an analysis by The Salt Lake Tribune.
The newspaper studied tax records filed by NBA player charities and found an array of problems.
The Tribune analyzed 89 stand-alone NBA player charities and published the results in a series of stories Sunday.
Together, the charities reported revenue of at least $31 million between 2005 and 2007, but only about 44 cents of every dollar raised -- or just $14 million -- actually reached needy causes.
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Information from: The Salt Lake Tribune
(Copyright 2008 by The Associated Press. All Rights Reserved.)
