The Beau Biden Foundation raked in nearly $4 million in 2020 but only spent some $550,000 on protecting children from abuse - what it states is its mission, according to tax filings. The Delaware-based foundation pulled in $3.9 million in 2020, including a $1.8 million infusion from The Biden Foundation, according to tax filings. It also took in a $225,000 donation from a top political donor to President Joe Biden, 79. Despite the extra $2 million, the charity only spent $544,961 toward its mission of protecting children from abuse. The foundation - which started less than a month after he died in 2015 - only spent about 58 percent of its budget on its mission in 2020, according to CharityWatch, a watchdog group. The group said top-rated non-profits typically spend around 75 percent the budget on programs. 'A 58 percent program ratio does not reflect a high level of financial efficiency,' CharityWatch Executive Director Laurie Styron told the . The foundation did, however, spend almost $1 million, with the majority of it going toward covering several six-figure salaries of those who hold executive spots within the company, according to the filings.
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