RIP The Britney Spears Foundation

July 22, 2011 By Jordan Miller

Britney’s charity, The Britney Spears Foundation, is broke, reports

According to the most recent federal tax filings, Britney’s parents and co-conservator Andrew Wallet have pretty much “zeroed out the effort.” The Britney Spears Foundation as of this spring now claims $17 in total assets.

In December, Britney sent $50,000 to Mercy Ministries of Nashville, which helps young women with pregnancy issues, drugs or other problems get back on their feet. She also donated $42,000 to rehab Cri Help in California.

The Britney Spears Foundation was a summer camp for underprivileged kids who wanted to be performers. The last time Britney’s team sent the camp money was in 2008, donating $21,000.

Just a few years ago, the Foundation was reportedly $200,000+ in debt. Time for a re-vamp! Who’s down?