Posts Tagged ‘Madoff’

SPLC — $106 Million Dollar “Non-Profit”

December 26, 2014

The holiday break allowed us some free time to peruse the Southern Poverty Law Center’s audited financial statements from 2006 to 2013, and, as usual, there were some interesting numbers that never make it to the SPLC’s never-ending fundraising letters.

NOTE: All of the financial data posted here comes directly from the SPLC’s own audited financial statements, as found on their own website. We’ll show you how to find the reports at the end of this post.

The most interesting financial factoid gleaned from reviewing the audits is that, since 2006, the SPLC has generated more than $106 million, tax-free dollars than was required to run the company.

Investopedia defines “profit” as:

“A financial benefit that is realized when the amount of revenue gained from a business activity exceeds the expenses, costs and taxes needed to sustain the activity. Any profit that is gained goes to the business’s owners, who may or may not decide to spend it on the business.”

Or to put it more succinctly:

Profit = Total Revenue – Total Expenses

Rocket science this is not.

The SPLC’s revenues come mainly from two sources: Tax-free donations and tax-free interest earned on their $283 million dollar “endowment fund.”

For the fiscal years 2006 through 2013 the SPLC’s Total Expenses (Operating Costs) looked like this:

Click Image to Enlarge

Click Image to Enlarge

Compare this total with the SPLC’s Total Revenue (Donations + Interest) for the same period:

Click Image to Enlarge

Click Image to Enlarge

 

And when we do the math (Kids! Try this at home!):

Total Revenue:   $371,486,581
Total Expenses:  $265,226,395

Total Profit:        $106,260,186

Not a bad chunk of change. Divide the Total Profit by the eight years inclusive and it averages out to $13,282,523 a year.

That’s over $13 million a year more than it costs to run the company AND includes a $19.3 million dollar hit the Company took in FY 2007/2008 when so many charities and nonprofits were devastated by the Madoff scam.

(Note: Listing here does not imply that the SPLC was involved with Madoff, we merely note the coincidence in timing.)

Donors ought to be curious as to why they continue to receive fundraising letters from Morris Dees and Mark Potok, but most won’t. They believe the SPLC’s fundraising propaganda because they desperately want to believe it. You can show them that the SPLC spent a mere 4.4% of the $265 million in Operating Costs on Legal Case Costs and they won’t blink an eye.

The SPLC is selling a fantasy and most of their customers are fully satisfied.

As always, we strongly urge our readers NOT to take our word for it. All of the SPLC’s financial documents through 2002 are available through the Internet Archive’s wonderful Wayback Machine.

Simply enter the URL http://www.splcenter.org into the Wayback Machine and select a year. Keep in mind that the SPLC posts their financials in March, and those refer to the previous fiscal year.

Click on any date highlighted with a blue dot and then click on the “Who We Are” link at the top left corner of the homepage. Scroll down to the Finances link to find the audited reports and the IRS Form 990’s, both of which are veritable troves of information.

The Annual Reports are less forthcoming, but are usually a hoot to read.

Read the numbers for yourselves and please let us know if you come up with figures that are different from ours.

“Dirty Money” and the SPLC

October 26, 2009

Southern Poverty Law Center propaganda loves nothing more than to smear groups and individuals who disagree with Morris Dees’ left-wing vision of the world. One of its favorite targets is the Federation for American Immigration Reform, (FAIR), and its founder, John Tanton.

Among FAIR’s crimes against humanity, according to the SPLC, were such heinous acts as:

  • Encouraging states and localities to adopt “English Only” statutes for official business
  • Campaigning in favor of California’s Prop 187, which would deny welfare benefits to illegal aliens
  • “Celebrating the passage” of federal laws aimed at reducing the number of  illegal aliens entering the country and requiring asylum seekers to remain in custody until the status of their claims could be determined

Pretty dark stuff, no doubt, but it paints a very clear picture of Morris Dees’ political ideology, and hence, the ideology of the SPLC. No matter that all of the above activities are entirely legal and represent the epitome of  simple civic participation; Mo doesn’t like it and therefore FAIR is a “hate group.”

The SPLC makes great noise over the fact that FAIR received $1.2 million dollars in donations during the 1980s and early 90s from the Pioneer Fund, a think tank that advocated the entirely legal and legitimate science of eugenics. Every farmer and rancher has employed eugenics since the dawn of civilization, but when applied to humans, feelings are hurt, and therefore a desire to improve human society is stamped “hateful” by Dees & Co.

If the Pioneer Fund’s money is “dirty,” then by extension so is John Tanton and, by association, so is FAIR, under SPLC logic.

On October 25, 2009, Reuters reported the death of Jeffry Picower, a close friend of arch-thief and convicted embezzler, Bernie Madoff. Madoff was convicted of running the largest Ponzi scheme of all time, which ultimately swindled $65 BILLION dollars,  mostly from Jewish investors, including Eli Wiesel and Steven Spielberg, wiping out life savings and bankrupting numerous charitable organizations.

Jeffry Picower was identified as the biggest winner in the Madoff scheme, and was accused of pocketing over $7 BILLION from the swindle.

Out of that $7 billion, as described by a recent article by Matthew Vadum on the American Spectator website, (see below), $2.9 million dollars were donated to Morris Dees’ Southern Poverty Law Center.

If FAIR is somehow tainted by donations made 25 years ago by an entirely legal and legitimate private group, what does this say about the SPLC, which accepted twice as much money, just since 2005, from a man who made billions from swindling Holocaust survivors and Jewish philanthropic organizations?

Ever since Morris Dees cashed the $5,000 dollar check from the Montgomery KKK in 1962, he’s proven that no money is “too dirty” as long as it’s green.

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http://spectator.org/blog/2009/10/26/madoff-associate-picower-dies

Madoff Associate Picower Dies

By on 10.26.09 @ 12:21AM

Jeffry Picower, 67, an associate of embezzler Bernard Madoff, was found dead in his swimming pool.

Picower is alleged to have profited handsomely from Madoff’s record-breaking pyramid scheme but that same fraud put Picower’s charity, the Picower Foundation, out of business.

The left-leaning Picower Foundation gave away almost $213 million since 1999, according to a philanthropy database.

The giant foundation had the misfortune to choose Madoff to manage its more than $1 billion in assets.

A sizeable chunk of its funding has gone to abortion groups, including NARAL ($3.2 million), Center for Reproductive Rights ($2.5 million), Planned Parenthood ($2.4 million), and Center for Reproductive Law and Policy ($625,000).

Picower Foundation gave $2.9 million to the Southern Poverty Law Center, a public interest law firm that uses politically skewed definitions of racism to indoctrinate children while smearing conservatives who question racial preference programs. The foundation also gave $200,000 to Project Vote (a.k.a. Voting for America), an affiliate of the radical Association of Community Organizations for Reform Now (ACORN).


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