Any comment on this?

Then we can assume they didn't steal it. I don't know how many they have on the payroll but from what I hear about most big foundations is most of the money goes to payroll, overhead, blah blah blah and then a small percentage actually goes to the actual use you intended it for. It sounds like they are bringing more people on board from Ford etc to help out. I would prefer that to hiring a bunch of employees and eating up the funds with overhead.
Yes the money is still sitting and yes it would have been nice if it would have been used sooner but at least it didn't disappear.

 

Several Years ago when I was at a SAAC Event at the Lowes Motor Speedway, I talked with a lady that worked for the CSCF. After chatting with her, I was under the impression that 100% of the Money went for the Cause and Pay Roll came from Shelby's other Busnesses as well as Overhead. I remember being impressed by that. So, unless there is actual proof that this is not true, I don't care to hear rumors.

 

Hopefully new info will come forward, but tax records are tax records - unless the "fund" intended on filing amendments for every year, that stands as the public record.

BTW this is the second source I've heard this story from.

 

My two cents...plus a dollar comments:
It is good that the AutoWeek article came out as CSCF has been in the shadows for various reasons for a few years. I have been a CSCF supporter since it was started in the 1990's (years before Carroll married Cleo and she became a director, article error) and managed by one of Carroll's former attending nurses, Herlita Natividad. Herlita now is with a large charity group in LA.
Carroll kept the signature price for his fans low at $25 for years and had an increasing number of items for sale by donation to CSCF: pictures, glasses, lithos, clothing items and much more. Herlita and her husband Danny and other family members trucked the items all over to events. Carroll liked spending a moment talking with fans. All operational funds came from Shelby operations so no overhead was deducted from the donations. After so many SAAC Conventions, Mini Vegas events and other shows a lot were wondering if there was anyone in the country without a Shelby signature.
But he was younger. He now is the worlds longest living multiple transplant recipient (heart and kidney) and has told me he takes dozens of pills every day to avoid organ rejection. He has good and bad days and has to be selective about the obligations that he takes on. Most appear to be limited to major business events and large revenue charity events.
Things changed when the Series I program got bogged down, legal challenges to the Cobra increased, his Goodyear shop in Gardena (home of CSCF) was partially torn down and not rebuilt for years, Shelby American restructured into Shelby Autos, etc. CSCF was not as visaible
I was disappointed but not surprised the "Shel was unable to make to SAAC-32/SVTOA Conventions. He has been busy signing dozens of dash plaques a day for the new Shelby Mustangs. Think of all the new fans demanding to see and get a photo with the Man at the Convention. It would have been overwhelming. If you want to get something signed send it to CSCF as directed on their web site. I also missed having Jen bring the CSCF van with the Foundation items.
As for spending the money, at least it is all still there, not dispersed to a bunch of everpriced directors and staff members like a lot of charities. They still review applications for assistance. CSCF has gone from selling caps to raffling high value cars resulting in a value that is ten times more than a few years ago. I look forward to their greater endowment of various charities and an updated report.

 

OK let's assume the money is still there. The one thing children needing transplants don't have is time. So lets get the chains off the checkbook. I am on the board of directors for a non profit that has many benevolent requests. One of the primary things we have in place is a method for releasing emergency funds quickly as the worst thing that good ever happen is someone suffering while entangled in red tape. I applaud anyone who works raising money for a non profit but with that comes responsibility. I don't want to judge anyone without knowing all the facts but I will admit the figures are alarming.
Tim

 

I think some should go find and evaluate facts before speculating on thievery and debauchery at the Shelby Foundation.

The data is a matter of public record, and always has been.

Simply stated, the organization, as a charity, is poorly managed. There are no "coffers of cash" that are being dipped into. There is no criminal activity...they just are spending too much of the proceeds, which leaves little to bestow.

The cost of sharing the hi-rent facility they are in, the travel expenses, the operating expenses, advertising and marketing expenses are all too high for the dollar volume of donations and receipts. Assets of the corp include cars from the collection; that's not liquid cash...they are stuck with the insurance and storage expenses.

All the income and expenses are a matter of public record. It comes down to a simple dilemma...they have too much overhead and not enough revenue to cover their expenses. And they only have had one 60k/yr employee..now, with 2 more admins on staff.

They are just not an efficient charity...in the very same way they are not a felonious charity.

It's not good...and has always smelled slightly...but no one is walking out with stuffed pockets...at the end of the day, there isn't much left to give to the kids.

 

Ms Shreeves, the Director of CSCF just posted on ClubCobra...

 

Thanks RShelby,
I have given lots of money to the CSCF and I will continue to do so and to support them.

 

Randall and "A-Snake", Great work at uncovering and re-formatting this very important Commentary by Carroll Shelby! In what appears to be the first step towards explaining his reasons for "planning the Future" while "forgetting the present", I was pleased to see he did not let a whole lot of time pass before releasing this to the public. The "Speculation" of what may or may not be done correctly concerning the charity is a real concern to many people who have been Shelby Fanatics for most of their lives. Most of the issues I brought up for discussion had been pointed out to me in the last six months by several serious people within our hobby. I am hoping that as always, Carroll will land on his feet when all is said and done. He has a history of great success when confronted by great challenges. judging by the responses this thread has received, I am not alone in that feeling. I also believe that there will be great redemption and success for the charity as the unprecedented publicity it has and shall receive can only raise awareness that much more! We have a great FORUM. it has been building and growing with very little controversy of the last 2 years. this topic has been our first real test of how we act amongst ourselves when faced with such a startling news story and watching it unfold as the days go by. I am proud to be involved with everybody here, even if we disagree about something big or little! When a Topic gets messy or out of line like I have seen on other forums, I always remind myself what brought me to this site in the first place? It certainly was not to Gossip or Argue! the most important reason we are here is our Shared passion for these Cars! I think it is time we all do just that for a while.