This article just went our earlier and I cant help but post this here.. The article is about the report of The Root -- an organization for black philanthropists and they have recently publish this article reviewing how the charities of major members or black americans share their wealth over a non-profit foundation. In the article, they have indicated that Floyds foundation spent out a whole lot more to contractors and consultants than to actual donation for charity. In such a way, the foundation was able to move huge sums of money without ever having the IRS looking into their deeds. All charity works and transactions remained tax-free in the US (well correct me if Im wrong).
Below is the main article published by the The Root (the black philanthropy).
Black Philanthropy: How Much Does Floyd Mayweather Give?
Below is a commentary from another org, related to the published article above.
The Nonprofit Quarterly | @npquarterly | The Dubious Philanthropy of Boxer Floyd Mayweather's Foundation
Its quite sad that even sports personalities and philanthropist can take advantage of charity work just to avoid taxes.
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