It hasn’t been a great year for Tampa Bay Buccaneers quarterback Tom Brady as he’s gone through a very public divorce that likely cost him a lot of money, has struggled on the football field this season, and suffered some staggering business losses that could also land him in some serious legal trouble. And it looks like Brady is facing some new controversy for some of his business dealings.
According to a report from The Daily Beast, Tom Brady has been using his charity, TB12 Foundation to pay for services from his for-profit company TB12, Inc. The problem is, the charity was operating at a $7 million loss as of 2020 while receiving very little funding and very few donations – only $200,000 from Brady himself.
“The quarterback’s for-profit company TB12, Inc. is the sole provider of ‘sports therapy’ sessions for the TB12 Foundation,” reporter Kate Briquelet wrote at The Daily Beast. “Since it launched in 2015, the foundation has paid Brady’s firm a total of more than $1.6 million for its services, and it’s the only company listed as an ‘independent contractor’ for such treatments.”
Essentially, Brady is the non-profit company to pay himself at his own for-profit company. And he’s likely made significantly more money from the shady system than he’s ever personally donated to his charity.
According to independent charity monitor Laurie Styron, this definitely isn’t common for non-profits.
“I can say that I haven’t come across this type of arrangement too often in my 19 years of nonprofit financial analysis in a watchdog role,” Styron told The Daily Beast.
It’s certainly not a great look for Brady.
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