Monday, April 7, 2008
Last year, the American Idol tv show sponsored a fundraiser, Idol Gives Back, and raised pledges of $76 million. The New York Times reports that money raised in the first year is being distributed over two years to nine charities that seek to reduce poverty in the US and in Africa. Although financial statements will not be released until May, Charity Projects Entertainment Fund, the entity that oversaw the fundraisning and distribution, says that administrative costs were about 7% of the total raised, a low percentage for overhead. The organization says that the financials will be made public after the audit is completed. Charity Projects Entertainment Fund, developed in conjunction with Comic Relief, had a lot of experience with this sort of fundraising and helped the project get off the ground. This year a new charity, Idol Gives Back (also the name of the fundraising event ), will handle everything. The next Idol Gives Back event will be held this week.