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July 05, 2007

Watchdog Groups Question Tiger Woods's Charities

Structured as a charity event, the AT&T National golf tournament, which begins today in Bethesda, Md., is the latest creation of the Tiger Woods Charity Event Corporation, a philanthropic conglomerate that raises millions of dollars for the Tiger Woods Foundation, reports The Washington Post.

Yet some observers question whether the event is as charitable as it first appears. The finances of Mr. Woods’s tournament are expected to resemble those of the PGA Tour charity events — which last year reported having raised a total of $105-million. However, the average event generates only about $1.75-million for charity after paying expenses, operations, and an average $5.7-million in prize money taken home by golfers.

“You can certainly question the validity of calling something a charitable event when so much money goes to individuals,” said Sandra Miniutti of Charity Navigator, a charity watchdog organization.

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