2 Mar 2013
I’m pretty sure there has never been a professional athlete who has damaged his own brand more than Alex Rodriguez. This guy just doesn’t get it. In a story that will probably receive far too little attention because it isn’t a “juicy” scandal, the Boston Globe investigated the charitable foundations set up by professional athletes and found that they don’t contribute a lot of the money they raise to charity. For example, the Josh Beckett Foundation only gives 37 cents of every dollar it raises to charity. (Charities typically give around 70 cents of every dollar raised to charity.)
But Alex is in a class by himself. The Alex Rodriguez Foundation raised $403,862 in 2006 and have a total of $5,090 to charity. After that it stopped submitting financial records to the IRS and was stripped of its non-profit status.
Where did the other $398,000 go? Great question and one that we will probably never get an answer for. But, that’s really beyond the point. The better question is how a guy who was making $25-million a year at the time couldn’t figure out how to make sure that almost all of his foundation’s money got to charity? After all, Alex earned $398,000 in less than 3 games in 2006.