A charity set up by an All Black legend to help underprivileged youth spent more than twice as much on its general manager's salary as all its donations to the community.

The Frank Bunce Charitable Foundation Trust raised tens of thousands of dollars from high-profile fundraisers and sponsorship but folded last September after just two years.

Documents obtained under the Official Information Act show the Charities Commission wrote to lawyers for the trust before it folded with a formal notice to deregister the foundation unless its financial records were released as required.

For the financial year ended March 2011, the charitable trust raised $50,986 in sponsorship and functions and $400 in donations. A further $20,000 in grants went towards the $40,000 salary of the general manager.

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Income of $71,386 was outweighed by expenditure of $83,560 - a deficit of $12,175.

The Frank Bunce Foundation spent $24,336 on the fundraising events and gave out $15,865 in donations. It paid a $40,000 salary to general manager Greg McCalman, who organised events.

A tribute dinner for Sir Colin Meads in September 2010 was a black tie event with a three-course meal, fine wines and a chance to "rub shoulders with some of the greatest players in the history of modern rugby".

Nearly 800 guests paid up to $5744 a table at SkyCity but minutes of a foundation board meeting noted the $30,000 initially anticipated ended up being $15,000.

A charity golf day lost money, Frank Bunce said last year as the trust was wound up, when he postponed the initial date for a trip overseas.

The board last July voted to wind up the trust and give any remaining funds to another charity.

Trustee Vaughan Couillault wrote to the Charities Commission to voluntarily deregister. "For a number of reasons, including Frank's other commitments, response from donors and the current economic climate, there was a motion passed to discontinue the Frank Bunce Foundation Charitable Trust."

Mr Couillault told the commission that $12,625 in cash assets would be donated to Youthline Auckland, which confirmed the gift had been received.

Documents obtained under the Official Information Act show the Charities Commission investigated the trust after the Herald revealed a South Auckland rugby club gave an interest-free $30,000 loan to the former All Black to help buy his house.

Bunce played for the Manukau Rovers and is now the coach, but the club was not involved in the trust.

"The commission is satisfied that the actions and management of the trust have not amounted to serious wrongdoing ... the trust openly admits they have let themselves down with the management style, however maintain that their intentions were well meaning," the investigation summary said.