10-31-2018, 08:06 AM
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Franchise Player
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Pro sports charities hoarding cash, overspending on fundraising, (Flames worst)
https://www.cbc.ca/news/canada/manit...rity-1.4884705
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Each of the eight foundations attached to Canada's NHL, NBA and MLB teams were recently evaluated by Charity Intelligence Canada (CIC). It found while the foundations are all quite successful at raising funds, they get poor marks for financial transparency, hoarding cash and over-spending on fundraising; based on analysis of their financial statements of the past three fiscal years.
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It found, for example, that for each dollar raised by the Calgary Flames Foundation only 30 cents goes to a charitable cause. On the high end, Maple Leaf Sports & Entertainment — owner of the Leafs and the Raptors — and the Vancouver Canucks for Kids Fund are in line with other charities, in the 70-cents range.
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