As someone who works in a non-profit, I applaud both fighters for putting on a fundraiser. I do have some questions, though, about the transparency of the event. The website for the event talks about what will happen at the event (somewhat) - food, drinks, entertainment - and the ticket prices, but doesn't really elaborate on where the money is going.
Mosley's goals are clearly spelled out in the press release: that it is for a charity that focuses on care seats for infants. The foundation itself, though, needs some work. The website is a shell, and fairly incomplete. See http://diamondslovefoundation.org and you'll see what I mean. They don't appear on Guidestar.org yet, though that may be because the foundation is too new to have appeared on the website, or to have filed tax forms.
Mayweather's charity has been around since 2007, so their financials are available on guidestar.org. If you read the financials, you'll see that the officers of the organization are mostly the same people who are always in Mayweather's circle - Floyd himself, Leonard Ellerbe, etc. It would appear that there are no paid employees, and the only salary expenses are for contractors - I'm guessing the publicist, and people like the person/company who prepares the tax forms. You'll also see that the budget of the organization was about $900,000 one year, and then about $3500 the next year. This tends to suggest that the Foundation is part tax shelter, and part image boosting. To be fair, most celebrity foundations have those two goals in mind, so Mayweather's is no different. Nonetheless, if Floyd wants to talk about how he's so focused on feeding the homeless, he might put a bit more emphasis into making the organization a bit more legit. He certainly has the money to fund the non-profit. A legit non-profit would spell out where the money is going on the website. Any potential donors want to know where their donations are going, and in what proportions. While the press release doesn't spell out where the FMJF money goes, the website shows that they support a few initiatives, including a boxing summer camp, education regarding making wise decisions with money (seriously...), a girls empowerment program, and a couple other things, including feeding the homeless. But how much money goes to each program? How much money goes to administrative expenses? If I donate $100, how is that money spent? Also, in the bit about feeding the homeless, the website talks about doing that at least 2x/month. Who are the people who are handing out these sandwiches? Who prepares the sandwiches? Is it Floyd Mayweather himself, as an episode of 24/7 made it look, is it "The Money Team," can people who are not inside Floyd's circle volunteer?
Both of these foundations have the potential to be more than just tax shelters and image boosters, but both need some work. "Like I said before," though, I applaud both fighters for putting this on, and would like to see more connections between major boxing events and charity events.