EXCLUSIVE: Kanye West's charity Donda's House - created to honor his late mother - barely made $65,000 in four years - less than the cost of FIVE pairs of his limited edition Yeezy sneakers

  • Rapper Kanye West's former charity Donda's House - named after his late mother - made a profit of $64,974 since it began in 2013, DailyMailTV can reveal
  • Kanye's Nike Air Yeezy 'Red October' shoes sell for up to $15,000 online, while his Yeezy Boost sneaker line regularly starts in the thousands 
  • According to 990 forms obtained by DailyMail TV,  Donda's House's total revenue from 2013-2016 was $457,236 with about $392,262 in expenses 
  • Some of the expenses include $146,487 on 'personnel' and 'contractors', as well as nearly $16,500 on travel in one year
  • The forms also state that Kanye worked on average two hours a week at the charity - just two weeks per year
  • The 41-year-old started Donda's House with his childhood friend Rhymefest to support struggling musicians and artists in their home town of Chicago     
  • A feud last year between the two men saw the charity cut all ties with Kanye and was renamed Art of Culture

Multi-millionaire Kanye West's former charity made less money than it costs to buy five pairs of his limited edition Yeezy sneakers.

According to the charity's last available accounts on the IRS website, Donda's House made a profit of just $64,974 since its inception in 2013. In its first year, the NGO (non-governmental organization) cleared just $40 profit, DailyMailTV can reveal.

Kanye's Nike Air Yeezy 'Red October' shoes sell for up to $15,000 online, while the highest resell price on eBay was set at $20,000 for a pair. That makes five pairs more expensive than what Donda's House has achieved since it began.

Kanye's Yeezy brand of clothing is some of the most expensive around, with sweaters and coats selling for thousands of dollars.

Rapper Kanye West's former charity Donda's House made a profit of $64,974 since it began in 2013 to 2016, DailyMailTV can reveal

Rapper Kanye West's former charity Donda's House made a profit of $64,974 since it began in 2013 to 2016, DailyMailTV can reveal

Donda's House was named after Kanye's late mother Donda West who died in 2007 after a botched cosmetic surgery

Donda's House was named after Kanye's late mother Donda West who died in 2007 after a botched cosmetic surgery 

Kanye's Nike Air Yeezy 'Red October' shoes sell for up to $15,000 online, while his Yeezy Boost sneaker line regularly start in the thousands

Kanye's Nike Air Yeezy 'Red October' shoes sell for up to $15,000 online, while his Yeezy Boost sneaker line regularly start in the thousands 

 

DONDA'S HOUSE PROFIT FROM 2013-2016

2013: $40

2014: $3,274 

2015: $17,589 

2016: 44,071 

Total Profit: $64,974 

The hip-hop star and wife Kim Kardashian are worth $510million combined, with Kanye's net worth at $160million and Kim's at $350million, according to Forbes Magazine.  

Donda's House was set up in memory of his beloved mother Donda West, who died after a botched cosmetic surgery in 2007.

The 41-year-old started Donda's House with his childhood friend Rhymefest to support struggling musicians and artists in their home town of Chicago.

However, last year the friends turned enemies when Rhymefest, real name Che Smith, accused Kanye of refusing to help the charity. 

The company accounts seem to prove his point.

According to the most up-to-date 990 forms, which go up until December 2016, Donda's House's total revenue from 2013 was $457,236, but expenses were $392,262, leaving a profit just under $70,000.

Kanye West is seen leaving The Mark hotel in New York City earlier this month with wife Kim Kardashian while wearing his Yeezy sneakers

Kanye West is seen leaving The Mark hotel in New York City earlier this month with wife Kim Kardashian while wearing his Yeezy sneakers 

This is Kanye West's childhood home in Chicago which has been abandoned a year after the rapper's charity announced its plans to convert the house into a community center

This is Kanye West's childhood home in Chicago which has been abandoned a year after the rapper's charity announced its plans to convert the house into a community center

The home lies abandoned with drug paraphernalia, smashed glass and filth-ridden back garden
The home lies abandoned with drug paraphernalia, smashed glass and filth-ridden back garden

The home in Chicago's south side lies abandoned with drug paraphernalia, smashed glass and filth-ridden back garden

DONDA'S HOUSE TOTAL REVENUE FROM 2013-2016 

2013:$ 9,149

2014: $45,736 

2015: $206,023 

2016: $196,328 

Total Revenue: $457,236 

DONDA'S HOUSE TOTAL EXPENSES FROM 2013-2016 

2013: $9,109

2014: $42,462 

2015: $188,434 

2016: $152,257 

Total Expenses: $392,262 

There's no mention of any donation from Kanye or Kim in the documents.

Some of the more extravagant expenses include $146,487 on 'personnel' and 'contractors', as well as blowing nearly $16,500 on travel in one year.

The 990 forms also state that Kanye worked on average over two hours a week at the charity, which is just two weeks per year.

The spat between Rhymefest and Kanye blew up last May after the former claimed the rapper had 'abandoned' his home city.

Donda's House had purchased Kanye's childhood home for it to become a center for disadvantaged musical talents, but it's been left in disrepair as Kanye refused to give any money to the project.

A feud between Kanye and childhood friend Rhymefest was put on display by Kanye's wife Kim Kardashian last year

A feud between Kanye and childhood friend Rhymefest was put on display by Kanye's wife Kim Kardashian last year

The feud between the two men saw the charity cut all ties with Kanye and was renamed Art of Culture

The feud between the two men saw the charity cut all ties with Kanye and was renamed Art of Culture

In response to Rhymfest's accusations, Kim, 38, said the charity was using him, tweeting: 'U haven't been right since u got kicked out of the studio in Hawaii wearing fake Yeezy's @RHYMEFEST You're over leveraging Kanye's name & asked Kanye to donate money to u so stop w your fake community politics & lies. 

'Truth is you haven't been able to sustain the foundation.'

In retaliation, Donda's House changed its name to Art of Culture Inc last June and broke off any affiliation with Kanye. 

 

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Kanye West's former charity Donda's House made less money than it costs to buy five pairs of Yeezy's

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