Posts about Colton Underwood
Because Colton says he wants to raise awareness about cystic fibrosis, let's talk about the Colton Underwood Legacy Foundation.
First, their 990 for 2016 is available on Guidestar.
The 990 is a tax document that the IRS requires for non-profits to keep their tax-exempt status.
In 2016, the CULF had $78,002 in revenue, and $42,211 in expenses, for total net assets of $35,791, all in cash. There are seven board members (Colton is president, of course), and they estimate that they spent 100 hours a week (in total) on the work for the foundation. So, that's 5200 hours a year of work to earn $78002 in revenue. On a per hour basis, that's $15/hour. Subtracting expenses, the labor of the board brings in $6.88 per hour. Minimum wage in Illinois is $8.25/hour, so the board is better off getting minimum wage jobs and donating that back to the foundation, or, perhaps a better phrase would be tax shelter.
The CULF also has four directors, so I'm not too sure what's going on with that board. It's my understanding that boards of trustees don't have more than one director, but I assume that's one director for every NFL bench that Colton Underwood sat on. No board members have any compensation listed.
The Colton Underwood Legacy Foundation also hosted a Colton Underwood Football Camp to promote the values and importance of youth sports. They spent $6,863 on this event in 2016. In 2017, this camp cost $25 per child, and lasted for three hours. Not per day, in total.
In 2016, CULF also spent $23,821 on a gala dinner. Tickets were $125/person. So, they would have had to sell 190 tickets to break even. Weirdly, the entire price of the ticket is listed as being tax deductible, but the foundation only brought in $28,226 in gifts that year.
It sounds like the Colton Underwood Legacy Foundation does...almost nothing for cystic fibrosis. Disclosures: IANAL, I was inspired by u/laughing_giraffes and their post about cystic fibrosis charities that do something.
The cost of providing care to someone with cystic fibrosis is about $15,000 each year, which means that the Colton Underwood Legacy Foundation raised enough money to pay for two years of care. That's a legacy!
ETA: Colton also provided for "fans without tickets" by opening an "industrial modern rustic sports bar" [sic] in 2016. He sold the restaurant in April of this year for reasons we can probably guess. He's just providing for the needy in every way!