Producers Of ‘12-12-12’ Talk Funds Raised

Now that nearly a week has passed since Billy Joel, Paul McCartney and Bon Jovi rocked MSG, the producers of the “12-12-12” benefit show have released figures about just how much money – so far – is being distributed to victims of Hurricane Sandy.

Produced by Madison Square Garden Company Executive Chairman James Dolan, Clear Channel President John Sykes, and Weinstein Company Co-Founder/ Chairman Harvey Weinstein, the Dec. 12 benefit is being called the largest concert event to ever take place at New York City’s Madison Square Garden. The lineup featured nothing but big names including The Rolling Stones, Bruce Springsteen & The E Street Band, Alicia Keys, The Who, Eddie Vedder, Roger Waters, Kanye West and more, as well as a long list of celebrity presents from TV and film.

Photo: AP Photo / Starpix

"12-12-12" (A Concert For Sandy Relief), Madison Square Garden Arena, New York City

Proceeds from the concert went to the Robin Hood Relief Fund, which is providing “money, material and know-how” to local organizations working with Sandy victims in the areas hardest hit by the disaster.

In an announcement made Tuesday night, the producers said the Robin Hood Foundation is distributing the first $50 million of initial proceeds to these organizations. The announcement points out that every single penny from ticket purchases and donations will go to the local organizations helping the victims through the Robin Hood Relief Fund.

“The money raised to date is going right to hundreds of organizations in the tri-state area serving those who need it most,” said Robin Hood Foundation executive director David Saltzman. “Robin Hood has already begun granting the funds for Sandy relief. We are continuing to raise funds through various ongoing sales opportunities and donations and we urge people to continue to contribute.”

Saltzman said that about 140 organizations will be receiving a portion of the funds, according to the New York Times. The newspaper reports that the organizations have assisted people whose homes and businesses were destroyed by the hurricane by doing everything from providing victims with legal and psychological counseling to giving cash grants to college students who can’t afford to pay their bills.

According to the Associated Press, the Robin Hood Foundation is distributing about 40 percent of the funds to New Jersey-based organizations. The rest of the proceeds will help groups in New York and Connecticut.

Of the initial proceeds being distributed, about $30 million came from the 13,500 tickets sold and donations from corporate sponsors such as J.P. Morgan Chase & Company, which also underwrote the concert’s production costs, according to the Times.

The remaining funds are made up from sources including donations via the telephone, online donations to the Robin Hood Relief Fund, merchandise sales, and sales from the live album of the concert.

StubHub recently announced it had raised $1 million for Hurricane Sandy victims by donating all of its profits from “12-12-12” concert tickets sold through its secondary ticket website to the Robin Hood Relief Fund.

As of Wednesday morning, the “12-12-12 The Concert For Sandy Relief” album, which was released Dec. 18, was at the top of the iTunes album chart. The 24-track album includes live performances from Bruce Springsteen & The E Street Band, Roger Waters, Bon Jovi, Eric Clapton, The Rolling Stones, Alicia Keys, The Who, Billy Joel, Chris Martin (with Michael Stipe) and Paul McCartney. Oh, and you’ll also get Adam Sandler and Paul Shaffer performing their version of “Hallelujah.”

Producers of the concert say more funds are expected to be collected from iTunes sales as well as proceeds from online auctions of signed items (including the drumsticks Dave Grohl used at the concert), continued merch sales, the U.S. network broadcast of the concert, DVD and CD sales, and other revenue streams.

For more information and to donate, visit RobinHood.org or 121212concert.org.