That's the cost of Palin's fee and expenses according to anonymous sources cited by Palingates, which foundation President Matt Swanson hasn't denied, only saying that the final tally hasn't been counted yet.
The money is reported to represent two payments of $37,500 for the speaking fee to Palin's agency, the Washington Speakers Bureau, as well as $18,000 in expenses including four first-class tickets from Alaska, luxury hotel accommodations, security and transportation to and from the event.
If accurate, the number means that the total take from tickets to the event -- $150,000 -- will likely cover just costs, which include not only Palin's fees and expenses but money to rent the space and provide catering. However, the foundation expects to net up to $200,000 in further donations.
Not to mention all the money spent on public relations, including an apparent strategy of placing flattering comments on news websites in response to articles about the controversy.
The foundation has previously asserted that no public money is going toward funding the event, however it seems to have negotiated a bad deal: Palin was paid only $35,000 to speak at an event in Oregon.
None of the money raised will be going towards scholarships.
Jackson West really needs to an agent to get him more speaking engagements.