Close Menu
Fund Focus News
    Facebook X (Twitter) Instagram
    Trending
    • CAPM BDBL Mutual Fund-01 unitholders approve conversion to open-end fund
    • Debt mutual fund turn volatile on RBI repo rate hike
    • US bonds: What will you actually earn?
    • 3 Carillon Mutual Funds to Consider Amid Evolving Economic Trends
    • Regular vs direct mutual funds: Higher expense ratio isn’t the only drawback; what else investors should know
    • Battery ETFs among top performers this month: market data
    • Is T. Rowe Price Emerging Markets Stock (PRMSX) a Strong Mutual Fund Pick Right Now?
    • Bitcoin ETFs Lose $487 Million: the Reasons
    Facebook X (Twitter) Instagram
    Fund Focus News
    • Home
    • Bonds
    • ETFs
    • Funds
    • Investments
    • Mutual Funds
    • Property Investments
    • SIP
    Fund Focus News
    Home»Funds»FireAid Did Not Misappropriate $100 Million LA Wildfire Relief Funds, Independent Review Finds
    Funds

    FireAid Did Not Misappropriate $100 Million LA Wildfire Relief Funds, Independent Review Finds

    September 8, 2025


    An investigative report into FireAid found that the organization did not misuse funds in its distribution of approximately $100 million in relief after the Los Angeles wildfires in January, contrary to widespread internet speculation.

    Latham & Watkins conducted an independent review of the charitable organization and released its findings Monday. The report stated that they did not find any evidence of misconduct or ill-intent taken by FireAid in its distribution of funds. Additionally, they found that FireAid enacted its mission and did not “deceive donors.”

    More from TheWrap

    “To date, we have not identified any evidence of misconduct, including any intent to deceive donors or to misappropriate funds for any purpose, nor have we identified any evidence of deviation from FireAid’s stated purpose,” the report read. “Rather, it appears that FireAid took a cautious approach and enlisted partners such as Annenberg and the GS DAF that had the experience, expertise and infrastructure to carry out its stated goals.”

    The report also found that nonprofits who partnered with FireAid to distribute its charitable funds have already made significant community impact, providing support for housing, trauma counseling, childcare and legal services, among others.

    “It is important the survivors and our L.A. community have real insight into how FireAid funds are supporting recovery,” a spokesperson for FireAid said in response to the investigation. “The Latham & Watkins Investigative Report affirms that FireAid’s grantmaking was transparent, mission-aligned and impactful for fire-affected communities across Los Angeles.”

    Internet speculation took issue with the fact that FireAid did not give money directly to affected residents. The investigation found that FireAid never intended to do such a thing.

    “Based on the materials we have reviewed to date, it appears FireAid made clear from its inception how charitable donations would be used,” the report read. “While FireAid itself is not making direct payments to victims, FireAid has disbursed grants to several nonprofit organizations that have provided direct relief — across a broad spectrum of services — to survivors of the fires and their communities.”

    One nonprofit partner The Change Reaction, for instance, provided direct assistance to affected residents. The organization used $1 million in aid from FireAid and distributed funds in 197 direct cash grants to help fire victims with rent, clothing, school supplies, furniture, food and medication.

    FireAid raised approximately $100 million from its mammoth five-hour, star-studded benefit concert. The organization has already distributed $75 million in grants to more than 170 frontline nonprofits, schools and community organizations in partnership with The Annenberg Foundation and the Goldman Sachs Donor Advised Philanthropy Fund.

    Each grant given through the organization required that funds be used solely for direct community support for relief, recovery and rebuilding — not for overhead or salaries.

    FireAid also released a progress report Monday, detailing the nonprofits they have partnered with and the recipients of grants thus far. The organization will distribute its remaining $25 million in grants by the end of 2025, focusing on housing, trauma recovery, rebuilding community spaces and longterm fire prevention.

    Latham & Watkins also listed each organization that has received funding from FireAid, providing further transparency into its financial allocations. The law firm will continue to conduct interviews with relevant stakeholders, review additional documentation and additional email communications, releasing supplemental investigative reports if they find necessary. FireAid will also conduct its own independent audit once all $100 million has been distributed and will make the results public.

    The post FireAid Did Not Misappropriate $100 Million LA Wildfire Relief Funds, Independent Review Finds appeared first on TheWrap.



    Source link

    Share. Facebook Twitter Pinterest LinkedIn Tumblr Telegram Email

    Related Posts

    How Gulf states are refinancing sovereign wealth funds as Iran war hits revenues

    October 8, 2026

    Vanguard Money Market Funds: What You Need to Know

    October 7, 2026

    Best large and mid-cap mutual funds October 2026: Consistent performers across YTD, 3- and 5-year returns—and their beta

    October 6, 2026
    Leave A Reply Cancel Reply

    Top Posts

    Battery ETFs among top performers this month: market data

    October 8, 2026

    CAPM BDBL Mutual Fund-01 unitholders approve conversion to open-end fund

    October 9, 2026

    Debt mutual fund turn volatile on RBI repo rate hike

    October 9, 2026

    US bonds: What will you actually earn?

    October 8, 2026
    Don't Miss
    Mutual Funds

    CAPM BDBL Mutual Fund-01 unitholders approve conversion to open-end fund

    October 9, 2026

    The move follows regulatory changes under the BSEC Mutual Fund Rules, 2025. TBS Report 07…

    Debt mutual fund turn volatile on RBI repo rate hike

    October 9, 2026

    US bonds: What will you actually earn?

    October 8, 2026

    3 Carillon Mutual Funds to Consider Amid Evolving Economic Trends

    October 8, 2026
    Stay In Touch
    • Facebook
    • Twitter
    • Pinterest
    • Instagram
    • YouTube
    • Vimeo
    EDITOR'S PICK

    Are Buy-to-Let Capital Gains Tax Rises Ruled Out?

    October 21, 2024

    Roundhill Investments Announces XDTE and QDTE Distributions for August 9, 2024

    August 7, 2024

    Fitch Ratings Upgrades City Colleges of Chicago’s GO Bonds to AA- from A+

    July 30, 2024
    Our Picks

    CAPM BDBL Mutual Fund-01 unitholders approve conversion to open-end fund

    October 9, 2026

    Debt mutual fund turn volatile on RBI repo rate hike

    October 9, 2026

    US bonds: What will you actually earn?

    October 8, 2026
    Most Popular

    🔥Juve target Chukwuemeka, Inter raise funds, Elmas bid in play 🤑

    August 20, 2025

    💵 Libra responds after Flamengo takes legal action and ‘freezes’ funds

    September 26, 2025

    🇮🇸 CPP Investments and Equinix complete atNorth acquisition to support growth of leading Nordic data center platform

    September 1, 2026
    © 2026 Fund Focus News
    • Get In Touch
    • Privacy Policy
    • Terms and Conditions

    Type above and press Enter to search. Press Esc to cancel.