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Madonna's Raising Malawi Charity Going Broke

Madonna's Raising Malawi charity was supposed to help African children in need -- but it may need a bailout of its own.

According to Showbiz411, Madge's foundation lost nearly a half-million bucks last year, thanks in large part to huge legal fees and payment to a group hired to distribute donations. And those have dropped off considerably. In 2010, the charity took in nearly $6 million , but last year's take was just a million bucks.

There's still some controversy surrounding the charity's activities. The long-promised leadership academy has not materialized, even though Madonna cleared people out of their homes to build the school, then abandoned the project.

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People : Madonna