Looks okay. Obviously they would be bringing associated costs down over a period of time, but 45%-50% management and fundraising costs in the first year is fine. There are a number of charities which run with that as a norm.
You say obviously and let's hope that was the intention however the fact that regulators were called in, that money was paid to companies run by his family and that they refused to divulge info about the gin linkup paints a poor picture which isn't going to give confidence to potential contributors.