The Department of Justice Must Eliminate the Southern Poverty Law Center’s Non-Profit Status, and Undertake a Criminal Investigation of the Racist Political Organization—the SPLC Has been Caught Shoveling Millions of Dollars into Shady, Offshore “Entities”

 

[Profiteers of Hate: The Encyclopedic Collection of SPLC Exposés Published by The Social Contract.]
 

By “W”

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“The nonprofit pushed millions more into offshore funds at the beginning of 2015.

“On March 1, 2015, SPLC sent $2,200,000 to an entity incorporated in Canana Bay, Cayman Islands, according to Securities and Exchange Commission (SEC) records and run by a firm firm based in Greenwich, Ct. Another $2,200,000 cash transfer was made on the same day to another fund whose business is located at the same address as the previous fund in the Cayman Islands, according to SEC records.

“No information is contained on its interests in Bermuda on the 2014 forms. SPLC's financial stakes in the British Virgin Islands were not acknowledged until its 2015 tax form….

“Tax experts expressed confusion when being told of the transfer.

"‘I've never known a US-based nonprofit dealing in human rights or social services to have any foreign bank accounts,’ said Amy Sterling Casil, CEO of Pacific Human Capital, a California-based nonprofit consulting firm. ‘My impression based on prior interactions is that they have a small, modestly paid staff, and were regarded by most in the industry as frugal and reliable. I am stunned to learn of transfers of millions to offshore bank accounts. It is a huge red flag and would have been completely unacceptable to any wealthy, responsible, experienced board member who was committed to a charitable mission who I ever worked with.’

"‘It is unethical for any US-based charity to invest large sums of money overseas,’ said Casil. ‘I know of no legitimate reason for any US-based nonprofit to put money in overseas, unregulated bank accounts.’

"‘It seems extremely unusual for a ‘501(c)(3)' concentrating upon reducing poverty in the American South to have multiple bank accounts in tax haven nations,’ Charles Ortel, a former Wall Street analyst and financial advisor who helped uncover a 2009 financial scandal at General Electric, told the Free Beacon….”

At the Washington Free Beacon.