Robin Hood to Distribute First $50 Million of 12-12-12 Concert for Sandy Relief Proceeds

The organizers of the 12-12-12 Concert for Sandy Relief have announced that the Robin Hood Foundation will distribute the first $50 million of the proceeds from the event to organizations working to assist victims of Superstorm Sandy.

Presented by Chase, the concert raised funds through ticket sales, sponsorships, telephone and Web donations, and merchandise, with additional contributions and revenue expected from online auctions of signed memorabilia, iTunes sales, a U.S. network broadcast of the concert, and DVD and CD sales. One hundred percent of ticket purchases and donations will go to disaster relief and recovery efforts through the Robin Hood Relief Fund, which provides money, material, and know-how to local organizations working in areas hardest hit by the storm.

"The historic '12-12-12' concert to benefit the victims of Hurricane Sandy was the largest concert event to ever hit the stage at Madison Square Garden, featuring the biggest names in music and the world's leading entertainers," said the concert's producers in a joint statement. "Through the collective efforts of the participating artists, celebrities, corporate partners, and sponsors we will be able to make a meaningful difference for so many of our neighbors who were affected across the tri-state area."

"The money raised to date is going right to hundreds of organizations in the tri-state area serving those who need it most," added 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."