The operative word is charity, which means that it enjoys tax advantages. If the charity was created as the veneer for Imus to enjoy a lavish vacation home, then as a taxpayer, I care.
Imus has a 4,000 acre working ranch in northern New Mexico, which is used ten weeks a year to give 100 kids a one week "cowboy" experience. 4,000 acres!!! 640 acres equals a square mile so Mr. Imus' ranch is over 6 square miles.
Michael Jackson's personal theme park probably handles (pun inteneded) more kids a year at less cost and is not a charity.
Those were my thoughts. He is doing good with the ranch but coincidently this ranch might offer all kinds of tax advantages. This makes his motivations cloudy. The tax advantages?
Who owns the ranch? My guess is the charity does and gets some great tax breaks and that the charity is obligated to sell the ranch to Imus 10 years from now for one dollar. Or that Imus's son inherits the ranch via a one dollar sale when Imus dies
For 2.6 million all kinds of improvements are being made on this 4,000 acre ranch property that his charity owns. And that this charity is obligated by contract to sell the ranch, or most of the ranch, to Imus for one dollar in year 2012.
** my speculation