The Stacey Abrams charity ‘New Georgia Project’ has a potential tax problem.
According to a new investigative report, the group is ‘missing’ $500,000. That’s not a small accounting error, it’s a possible crime.
Charities are carefully regulated when it comes to finances. They don’t just casually misplace hundreds of thousands of dollars, at least they’re not supposed to.
The Washington Free Beacon broke this story:
Stacey Abrams Charity Has a $500,000 Problem In Its Latest Tax Filing
Over half a million dollars is missing from the New Georgia Project, a discrepancy which experts say is grounds for state and federal investigations into the Stacey Abrams-founded group and the woman Abrams tapped to run it.
The New Georgia Project filed its 2021 Form 990 financial disclosure in January, two months after the form was due to the IRS, and three months after the charity’s board chairman fired CEO Nse Ufot, Abrams’s hand-picked leader for the group. In the disclosure, the New Georgia Project reports a $533,846 consulting payment and a $67,500 grant to the Black Male Initiative, an obscure charity run in part by Ufot’s brother, Edima, a former New Georgia Project employee.
But the Black Male Initiative says it never received any such consulting payment. The group provided the Washington Free Beacon with its IRS financial disclosures, which show it collected $0 in consulting income and just $255,000 in contributions from all sources in 2021.
The ethical questions raised by the missing money are the latest stumbling block for the embattled charity.
This does not look good.
NGP reported making a $533,846 consulting payment to an obscure charity called the Black Male Initiative in 2021.
But BMI says it never received any such consulting payment. In fact, it received $0 in consulting income and raised just $255,000 from all sources in 2021.
— Andrew Kerr (@AndrewKerrNC) February 16, 2023
“Something’s rotten in the state of Denmark,” said Alan Dye, an attorney that specializes in nonprofit law.
“This is something that the Internal Revenue Service should be interested in,” he said.
— Andrew Kerr (@AndrewKerrNC) February 16, 2023
New Georgia Project is one of the largest voter mobilization groups in the country. Its Form 990 financial disclosures show it and its affiliated Action Fund raised a combined $54.7 million in 2020 and 2021.
The financial disclosures are riddled with errors and discrepancies
— Andrew Kerr (@AndrewKerrNC) February 16, 2023
The one thing Abrams has going for her is that she is a Democrat media darling, so the press will cover for her for as long as they can.
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