RIP The Britney Spears FoundationJuly 22, 2011
Britney’s charity, The Britney Spears Foundation, is broke, reports HollywoodNews.com.
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?