Act like a do-gooder, think like a businessman? RadarOnline.com has learned that Steve Harvey’s personal charity acts like something of a piggy bank for his friends and family, who are cashing in while the charity programs funded by him suffer.
According to tax documents obtained by Radar, the Steve Harvey Foundation lost $440,500 in 2013, because they took in only $977,558 in donations and spent a whopping $1,453,058 on expenses.
That same year, his daughter Brandi took in $68,750 for her work with the charity. His stepdaughter Morgan took in $71,875. Luckily, both of their salaries were covered by his own personal contribution of $200,000. His pal Denzel Washington chipped in a cool $100,000 too.
The charity did, however, spend nearly $1 million on mentoring programs and a turkey giveaway.
But the next year, spending on charity programming dropped to $621,736, 2014 tax records obtained by Radar show. With expenses hovering at $1,868,582, that means that they spent just 30% of their outlay on program services.
According to Nonprofit Quarterly, that represents an abysmal figure in comparison to the the range for “a favorable rating,” which usually “falls between 60 and 70 percent of total expenses.”
Still, despite that poor showing, Steve gave his daughter Brandi a raise in 2014, bumping up her salary to $72,125. He also added his bodyguard, William “Big Boom” Freeman to the payroll, with a salary of $52,250. (Both of those are less than the Nonprofit Times’ 2014 mean executive salary of $100,000.)
But expenses continued to pile up. Steve paid $221,740 for travel, $34,535 on advertising, more than $20,000 to run his website, and more. All told, expenses were $1,868582, leaving just over $15,000 in profits for the year.
And again, it was his friends and business associates that paid the bill. Harvey donated nearly half a million dollars personally and through his Wonderlove, Inc., business.
Premiere Radio Network, home of his Steve Harvey Show, donated $115,000.
Would you donate to Steve Harvey’s charity? Why or why not? Let us know in the comments!
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