This story should boost the public’s opinion of Alex Rodriguez quite a bit. Or not.
According to the report In nonprofit game, athletes post losing records from Callum Borchers of the Boston Globe, A-Rod’s charitable foundation was in fact not charitable at all.
A foundation started by New York Yankees third baseman Alex Rodriguez gave only 1 percent of proceeds to charity during its first year of operation in 2006, then stopped submitting mandatory financial reports to the IRS and was stripped of its tax-exempt status.
The Yankee definitely knows how to win over the hearts of America. A whopping 1 percent of proceeds were donated to charity. According to Borchers, the acceptable donation minimum for a nonprofit organization is 65 to 75 cents of every dollar. While there may be more behind the story, we will just err on the side of caution with A-Rod.
Despite the fact that the A-Rod Family Foundation’s donation is a far cry from the minimum acceptable threshold, “the group’s website still tells visitors the A-Rod Family Foundation is a nonprofit organization.”
Borchers’ report also goes on to highlight several athletes who have taken the time to establish a well-respected charitable foundation, but for A-Rod, it’s just another glaring character flaw for America to pick on.