Bono under fire for bungling of funds
New York: Rock philanthropist Bono, the frontman of U2, has come under attack after it was revealed that his anti-poverty foundation `ONE` gives only one percent of it`s funds to charity.
The non-profit organisation set up by the Irish rock icon received almost 15 million in donations in 2008 but handed out only 190,000 to good causes, reported New York Post.
More than 50 percent of the funds, went towards paying salries and ONE is now facing allegations of mismanagement and fraud.
In the UK, the organisation laid on a series of high-profile, celebrity-supported events since it launched in 2002 to fight poverty in Africa and Aids worldwide.
ONE spokesman Oliver Buston has defended the way the organisation is run, insisting the money is used for promoting its campaign and raising awareness rather than being given straight to those who need help.
"We don`t provide programmes on the ground. We`re an advocacy and campaigning organisation," said Buston. Another spokesman in New York today dismissed the notion of lavish salaries being paid to its 120 members of staff and said the organisation was highly efficient in its raising of awareness.
ONE said it took no money from the public and that most of its funding came from the Bill and Melinda Gates Foundation.