*Rapper Jay-Z’s donations to his own charities are under fire , according to The Daily.
Many believe the rich should give back and The Daily went digging and found Jay-Z made $63 million in 2010 and only donated $6,000 to his own Shawn Carter Foundation.
Jay-Z’s representatives deny the claim and point to a benefit concert he threw last year which raised over $1 million.
“Jay, along with his family, provided office support, overhead support, [mother] Mrs. Gloria Carter’s 100% effort and time, computers, FedEx expenses, accounting, and treasury function support. This was at no cost to the charity,” Jay-Z’s publicist Jana Fleishman said in an email to The Daily.
Jay-Z reportedly gave 0.01 percent of his earning to charity while a typical American donates about 3 percent.
What do you think of this story?
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So how do they normally receive donations?
“Jay-Z’s charity, now called the Shawn Carter Scholarship Foundation, received only three donations in 2010, totaling $218,849.
The largest, $200,000, came from pharmaceutical company Kinray, which was owned at the time by Jay-Z fan Stewart “Rah Rah” Rahr. Cardinal Health bought the company for $1.3 billion in November 2010.
The charity received an additional $12,418 from MissionFish, which bills itself as “the way to fundraise on eBay.” Jay-Z’s $6,431 cash contribution was the smallest of the three.”
Does this mean that they only receive large donations from a handful of donors?
So how much would this matter if they decide to stop giving as a result of this info?
“Fleishman also said that in 2011 — a year for which tax returns for the charity are not yet available — a Jay-Z performance helped raise $1.25 million for the charity at its Carnival at Pier 54 event.”
So the lion share of the donations is from Jay himself. Well, maybe Bey could chip in to make up the few $100,000 that they would lose from the other donors.
“His superstar wife, Beyoncé, made in the neighborhood of $87 million, according to a Forbes estimate — yet she didn’t give her husband’s foundation a dime.”
She could throw a few concerts to help out her husband’s cause.
But rich people can write this off on their taxes. And that’s a big deal when you have such a large income. So why so stingy?
He had to know this would become public?
Not a good picture for the power couple.
We are living in a period of change, monumental change. Right now the change is mostly subtle meaning that the ones with open eyes-minds-and hearts are going to pick-up on them more quickly and more often. Light (of truth) is being shined continually – just observe (even the news shows us now) – on the darkness (liars, connivers, manipulators, sexual deviants, poverty pimps and the list goes on). This Jay-Z story shines light on the corrupt nature of too many so-called charities. How many people give and have really no way of accounting for the use of what they gave? There was a ‘time’ when I tried to donate whenever I could but I got hip to the game and refused to throw my money away– today, I give directly to the cause…that way, I know or at least I’m closer to knowing what’s really going on. Pretty soon, all of the Jay-Z fans (smh, I was once one, too) will see him for what/who he truly is. Hell, this story is yet another clue. But one of the grossest (sp) examples of charities that rip people off is these cancer charities. There are various cures – yes, cures – in nature. Do your research, it’s quite simple. But where is all the money going? There are several reasons why the rich keep getting richer and the poor keep getting poorer, and (fake) charities is one of them. I try not to get angry but manipulating honest, caring people angers me! I say all of this to say, Be Aware.
This is classic on 2 fronts.
People with no money telling someone who made 63Million bucks in ONE year which is phenomenal, what he should do with what he worked for,instead of trying to learn from him,so they,too could make more money.I congratulate anyone who makes 63 million legally and morally.
Also this is one side of the story.Americans are so reactionary to everything.Always jumping to conclusions w/out all the facts.It’s not often it is disclosed how much one gives to charity,is it possible he gave to other charities or donated in other ways?
This is a senseless article. Is the purpose of creating a charity so that you can put your own money into it or provide a medium for money to be funneled through?
Where do you think most of the money for The Bill Clinton Foundation comes from and how much you think he “personally” gives to his own charity?
Man, sometimes people just don’t know what to say or think.
Thank you jr.
This horrible article was written to entice us in belittling Jay-Z! No one knows how much money this brother gave away to charities – and rightfully so, it isn’t anyone’s business! Like one of the posters stated: we are to reactionary when it comes to trying to denounce someone else’s efforts! I am proud the brother was able to amass that type of money. He made it, and should be able to do with it as he pleases! I wished I made that type of capital and someone tried to tell me how to invest – or spend my money! Someone’s azz would be checked – and I don’t mean at the coat desk!
There is absolutely NO WAY I believe this story…Could you imagine what this would do to him in regards to his public image? I think this is something made up so make him look like a cheap ass and chances are he probably donates more money than anyone can imagine but just doesn’t make it known. He’s too damn business savvy to do some crazy shit like that…OMG…He’d be the laughing stock of forever!!!
It likely is true.
The original article read as, The hip-hop artist gave just $6,431 to his own charity in 2010, a year in which he earned an estimated $63 million, according to tax records for the Shawn Carter Scholarship Fund examined by The Daily.
What this means is that no one knows how much he gave to charities as a whole. But we do know that he gave his own organization $6400 which IMO, says nothing about him or his wife. If you must donate most of your own money to your own foundation, there isn’t much purpose in having one in the first place. You don’t run a foundation with your own personal money. No one does that and why would they?
But as a business savvy person, why wouldn’t he report it on his tax return?
Would save a bundle on his tax bill.
No one knows what he reported on his tax return so I don’t get your point.
Frankly, I can’t imagine that he didn’t/won’t.
They know exactly what he reported on his tax return. That’s how this article came about.
The linked article says:
“Fleishman also said that in 2011 — a year for which tax returns for the charity are not yet available — a Jay-Z performance helped raise $1.25 million for the charity at its Carnival at Pier 54 event.”
Reds, did you read the article?
The article “came about” because The Daily reviewed the foundations 2010 tax records.
Where are you getting information about his PERSONAL tax records? It’s certainly not in what you just posted which essentially says that they don’t have the 2011 records for the foundation.
Are you serious?!
The article is about Jay-Z’s contribution to his charity, the Shawn Carter Foundation.
I don’t know how they got it, but apparently it has information about his contribution. I don’t know if they also has his personal tax return, but somehow they have the info, itemized in black and white, of each donors contribution to the charity. And in Jay-Z’s case, it’s $6,431 in cash.
They aren’t even even denying it. That’s why they came out with that statement.
Jay-Z’s long time publicist Jana Fleishman declined to say whether Jay-Z has given any cash to the fund since 2010, but notes that he contributes in other ways.
“Jay, along with his family, provided office support, overhead support, [mother] Mrs. Gloria Carter’s 100% effort and time, computers, FedEx expenses, accounting, and treasury function support. This was at no cost to the charity,” Fleishman said in an e-mail to The Daily.
It’s been a few days but I wanted to quickly jump back in to respond to a few statements. I guess the most important thing to realize is that none of us “knows” exactly how much money or material things anyone on this board or reporting on this board has. What’s legal and moral, these daze, is subjective being that it seems nearly everything can be rationalized to suit one’s desire. One can assume but, by now, we all should know what an assumption is. I agree that whatever Jay-Z gives to his own charity is his business. However, I do have a right to make or share observations. Now, I should have included my basis for speaking about his donation which would have been an observed pattern of purporting, or purposely making things seem other than they are. I am challenged by a delayed memory recall which doesn’t always allow me to note things specifically which also means that I wasn’t able to address/document the specific occurrences that make up the pattern I referenced without spending/wasting most of the day by going back and researching the instances…I mean, why do that for an opinion board? Also, on an opinion board, I am not obligated to prove what I say by listing any related accounts…I should only do my best to speak what I know to be true and/or base what I speak about on truth. At the end of the day, we all answer to our own due diligence.
My issue is with celebrities-public figures-organizations acting or being represented in a particular light different than the words they speak and actions they take [on behalf of themselves]. So for Jay-Z to, again, be portrayed as this upstanding guy that’s really down with ‘the people’, disturbs me. And yes, in starting/maintaining a charity one shouldn’t expect for the founder to contribute a majority of the funding…there are various ways to raise funds for it…but it’s not the same as merely fundraising because usually a charity has a long-term mission in mind that is expected to grow over time if it is to truly benefit the targeted persons/group. If, by his own admission (per the article), this charity/foundation is experiencing “growing pains” then his commitment becomes questionable even if he’s only supporting one of his own charities with a donation that is roughly a hundredth of 1% of his yearly earnings (and I understand earnings usually exceed (taxed) net earnings/profits). But still…I’m just sayin’…a fraction of a fraction of 1%?
So I do know what to say and think and exactly what I’m saying and thinking when I say something. Jay-Z’s guise, which is my sole opinion (based on my observation), was the basis for my comments on yet another guise of a larger scale, e.g., (major) cancer charities.