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December 20, 2012

Foundation to Disburse $50-Million from 12-12-12 Sandy Show

Last week's star-packed "12-12-12" benefit concert for Superstorm Sandy victims raised about $50-million, which the show's producers said would be distributed immediately to about 140 aid organizations, The New York Times reports.

More money is expected to flow to the event's beneficiary, the Robin Hood Foundation, through donations and the sale of merchandise and a live recording of the Dec. 12 concert featuring the Rolling Stones, Bruce Springsteen, Kanye West, Paul McCartney, and other superstars.

The direct take from the show exceeded that of post-9/11 Concert for New York but fell well short of other recent, telethon-style disaster fundraisers, such as the 2010 Hope for Haiti broadcast.

Giving experts say the flow of donations has been affected by the storm's late-year timing and perceptions that the northeastern regions slammed by Sandy are affluent and do not need significant help, according to The Philadelphia Inquirer.