January 22, 2018
Free-market consumer watchdog, Consumer Action for a Strong Economy, announces intent to file IRS inquiry after discovering foreign, offshore account and apparently conflicting statements in the group’s mandatory financial disclosures.
(Arlington, Virginia) – The powerful and well-funded Everglades Foundation, an environmental activist organization, has raised several red flags regarding their activities and financial positions on their most recent filing with the Internal Revenue Service (IRS). This has prompted free-market consumer group, Consumer Action for a Strong Economy (CASE) to question the propriety of their actions given their tax-exempt status.
Organized as a tax-exempt 501(c)(3) charitable organization, the Florida-based Everglades Foundation’s most recent disclosures reveal a $1.29 million investment account in the Cayman Islands with ties to its founder and most generous benefactor, hedge-fund titan Paul Tudor Jones. The account, with investment firm Two Sigma Compass, raises eyebrows not only for its foreign status, but also because its founder, David Siegel, once worked for Jones investment firm, according to a 2016 report in Forbes magazine.
Other irregularities arise through conflicting statements regarding the group’s expenditures on activities related to lobbying the general public, activities in which they have engaged but reported “0” expenditures on their Schedule C.
“There appear to be several questions of accuracy and propriety regarding the Everglades Foundation, and their public obligation to accurately report their activities and fully disclose their financial interests,” said CASE President Matthew Kandrach. “This is an organization with considerable clout, including a star-studded board of directors, assets of almost $8 million, and who does not pay any taxes on their income. From all appearances, they owe the public an explanation.”
CASE Vice President Gerard Scimeca, an attorney, said their report warrants further review by the IRS. “Under the last Administration, the IRS was politicized to bully, harass and intimidate dozens of conservative groups innocent of any wrongdoing, to deny them tax exempt status merely to achieve a political goal. In a situation like this, where an organization on the left has raised several red flags, it’s entirely proper that an equal and legitimate amount of scrutiny ensure this organization is playing by the rules.
“Money, power and influence should not be a license to cut corners, or perhaps even skirt the rules. It’s our aim to see that there is a thorough review of the Everglades Foundation’s activities and finances to maintain public trust in our charitable institutions.”
The full Everglades Foundation 990 form can be seen here: EF 990
Search
Categories
- Aegis
- Agriculture
- Commerce
- Communications
- Consumer Safety
- Data Privacy
- Economy
- Education
- Energy
- Entertainment
- Environment
- Financial Services
- Fiscal Policy
- Healthcare
- Higher Ed on the Hill
- Intellectual Property
- Kentucky
- Labor
- Legal
- Lifestyle
- Manufacturing
- Media
- Regulation
- Retail
- Robotexts
- Taxes
- TCPA
- Technology
- Trade
- Transportation
- Uncategorized
- Veterans
Archives
Contact Us
.@POTUS’ IRA is driving up Part D premiums for millions of Medicare beneficiaries, yet Dems like @SenSanders continue to help tout this disastrous legislation. The Biden-Harris @WhiteHouse is misleading the public on their policy’s real impact.
Two weeks from election day, the supposedly independent @FCC is proposing price regulation of #broadband by restricting what data plans companies can offer.
By prohibiting usage-based plans, the FCC would end up increasing prices FOR EVERYONE, including low-data users!
CASE Letter Urges FDA & FTC to Scrutinize Deal Between L’Oréal and Galderma -- "Both companies are currently under investigation or facing sizable lawsuits from claims that they have used harmful chemicals in their products."
https://caseforconsumers.org/2024/10/21/case-letter-urges-fda-ftc-to-scrutinize-deal-between-loreal-and-galderma/