ND never promised its graduates could count.
OT: Chris Zorich "Misplaces" $864,000 of Charitable Contributions
" I have always wondered why athletes and other wealthy individuals are so quick to set up these foundations. . . . When an athlete or another individual sets up a foundation, particularly one endowed with a lot of cash, they create another administrative entity that sucks away more and more of the money. I remember reading about a Jonny Unitas' charitable foundation and that it was taking in like $120,000 a year, versus $80,000 or so in administrative expenses."
I don't know about Unitas specifically, but a lot of these guys (not just athletes but rich people generally), hire family members to run the foundations. That way they get a tax deduction for giving $$ to family.
These foundations / charitable organizations are setup as 501(c)(3) non-profits that aren't subject to tax. It's a huge tax shelter for them. They donate a bunch of their money to the foundation, take the deduction for that contribution to a legit charity, and pay people to run it. Everybody wins.....most of the time.