Where ambitious construction for the 1976 games in Montreal and 1980 games in Moscow had saddled organisers with expenses greatly in excess of revenues, 1984 host Los Angeles strictly controlled expenses by using existing facilities that were paid for by corporate sponsors. The Olympic Committee led by Peter Ueberroth used some of the profits to endow the LA84 Foundation to promote youth sports in Southern California, educate coaches and maintain a sports library. The 1984 Summer Olympics are often considered the most financially successful modern Olympics and a model for future Games.