That's the case with most fundraising efforts, for cancer research, schools, etc. Nearly all of it goes to the fundraising mechanism, especially salaries.

I own a business, and I get asked to do fundraisers all the time. Of course, they want me to do it for free, "for the exposure" because "people with money" will be there. When I was new, I did few, and got nothing but requests to do more free fundraisers. Now I flat out tell them "No, I'm what you spend your money on to attract more money." If they don't like it, I don't care. Why should I worry about losing a free gig, or chasing off someone who demands I work for free?

Fundraising is a scam.