By on July 23, 2007

bilde.jpgAutomotive News writes that Carroll Shelby's Children's Foundation– set-up in 2002 after The Man's heart switch– has doled-out less than one percent of its $2.9m stash. (The money is supposed to help children who need organ transplants.) The revelation is bound to embarrass FoMoCo, as The Glass House Gang have provided four new Shelby vehicles for Carrol's charity to raffle and auction. It could also reduce the Foundation's ability to raise funds, as donors learn that their money's destined for a charitable parking lot. Although there are no implications of financial impropriety, and the Foundation now promises to "professionalize," it is worth mentioning that the Texas legend hasn't donated a single dime to his own cause.  

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12 Comments on “Carroll Shelby’s Children’s Foundation Pays Out Bupkis...”


  • avatar
    NickR

    I am not surprised. Hypocrisy is more rampant now than ever. And, legend though he may be, what I’ve read of Carrol Shelby makes me think he is kind of an a’hole. And let’s not forget his willingness to pimp out his name for some truly awful cars.

  • avatar
    Slow_Joe_Crow

    Sadly, this is consistent with Peter Delorenzo’s rants about Shelby on Autoextremist.com, where he says Shelby would do anything for a buck. Does anybody remember the “continuation” Cobras? Shelby claimed to have suddenly unearthed a cache of NOS Cobra chassis and VINs to allow building some “genuine” 1960s Cobras, just when he needed a few million for some project.

  • avatar
    Hippo

    Par for the course. Most charities and non profits in the US exist just to provide exorbitant wages for the head honcho’s. Even with the few “legitimate” charities the administrative costs are sky high.

    Scam City, who ever heard of 32184 and counting religions or 18675 indian tribes. LOL LOL

  • avatar
    928sport

    To all of us in the aftermarket this is no surprise,He has been pawning snake oil off for years.You have to hand it to him though,he is a marketing expert,him and steve saleen must have gone to the same school!Ford will sleep with anyone if it would sell a car.

  • avatar
    68stang

    I guess the guy who payed over half a million for a 2007 GT500 at Barrett Jackson the other year, thinking it was going to charity, isn’t going to be too happy…

  • avatar
    quasimondo

    He was a sucker for bidding on a vehicle at that auction to begin with. Fools, money, and the rest of that saying.

  • avatar
    NickR

    And, as an aside, I’d take a a Kirkham replica over one of his new ‘real’ Cobras anyday.

  • avatar
    Luther

    Most charities are scams that might pay-out 10 cents on the dollar. Preying on peoples guilt, fear, and compassion is extremely profitable and with an added benefit that lots of other people will admire you…especially pretty, young, females.

    GREAT work if you can get it. Just ask politicains and celebrities.

  • avatar

    As director of the Carroll Shelby Children’s Foundation, I’d like to share what is really happening with our organization. Please read Carroll’s comments on our website (http://cscf.org/jul07letter.asp) that explains how our donations are being used to establish a perpetual endowment so the Foundation can make grants for years to come. Once you read his message, I’m sure you’ll understand our goal as this is a standard practice for major charities worldwide.
    Jenni Shreeves

  • avatar

    CSCF, I didn’t read anything in the link provided that directly refutes the article. I understand if you are putting in a lot of money and hoping to use the interest forever to pay for the goodies but post the actual dollar figures as to what goes in what goes out what is invested what your recieve in donations and interest and what you pay in administrative costs. Otherwise it stands that you pay out less than 1 percent which is a pittiance

  • avatar
    Jetjouster

    Easy to pile on…just like crabs in a pot. He’s not pocketed a dime. Hasn’t miss used it. Someone thought they’d get some press for themself for half way doing a piece…bad form. I guess that’s why their subs are down. Can’t do a decent story on a car, so let’s trash an industry icon. You that trash him must know him personally.
    Sherman is right, there should be disclosure, but if I was giving more than a couple hundred dollars, I’d investigate it myself, make a call and find out for myself just what the numbers are and then make a decision. I surely wouldn’t rely on some flimsy written article that hasn’t bothered to print his personal comments and that of the foundation’s.

  • avatar
    Mustangfan

    The best thing to do here is to have an indeendent audit of the entire oranization – financial records, communications, and internal documents. Where there is smoke, there is fire. Knowing the IRS, they will most probably be scheduling one shortly !!!

    An endowment is one thing, but there are rules that specifically stipulate that for a non-profit organzation like this, a specific minimum mount must be distributed – and they have not done this. Make me wonder if a hand is in the cookie jar !

    Lets m=have the IRS do their thing.


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