Kanye Wests Ex Charity May Be Forced To Close After It Barely Raised Any Money
As Kanye West navigates ongoing financial problems, his former charity looks like it’s about to go under, as it’s barely raised any money in the last few years.
Though the rapper hasn’t been involved with the charity for years, he originally founded it with his childhood friend, Rhymefest. They wanted to create an organization to help underprivileged children in Chicago through music and art. The friends named the charity Donda’s House, which a nod to Kanye’s mother.
However, Kanye left the charity in 2018 after Rhymefest was alleged to have stopped financially supporting the organization. Kanye accused him of abandoning Chicago.
Though Kanye has garnered a reputation for making wild (and often controversial) accusations, his then-wife backed up his claims and even called Rhymefest out online.
"You're over leveraging Kanye's name and asked Kanye to donate money to you so stop w your fake community politics & lies,” Kim Kardashian tweeted at the time. “Truth is you haven't been able to sustain the foundation.”
And unfortunately, it doesn’t appear as though the charity has been properly maintained in the years since Ye cut ties.
According to new reports, the charity’s last tax form was filed back in 2019, and it shows just how much money it was bringing in. Though it made $15,529 in donations that year, the charity said it had $15,545 in expenses, leaving a profit of only $16.
It appears the charity – which was renamed Art of Culture – is currently at risk of losing its status as a charity, including its tax-exempt benefits.
Rhymefest hasn’t addressed the controversy around the charity, but he did previously admit that running the organization was a challenge. "It's very challenging for non-profit organizations in the city of Chicago to get the foundational dollars necessary to turn around communities that are in despair,” he stated.
So far, Kanye also hasn’t commented on the charity controversy. The rapper is going through a variety of legal and financial issues, however, so he may not be in a place to help out, even if he wanted to.
Kanye is facing a myriad of lawsuits, including a $250 million defamation case filed by George Floyd’s family. He’s also not making as much as he used to, after losing a variety of collaborations amid his controversial behavior last year.
This includes his long-standing Yeezy and Adidas collaboration. Once he lost the deal, Forbes said Kanye no longer qualifies as a billionaire. It’s been reported that his new wife Bianca Censori has taken control of his businesses in order to keep Ye’s empire afloat.
Sources: The Sun, Vanity Fair,
from TheRichest - Feed https://ift.tt/A69aXkP
Post a Comment