Jewish Extremist Hate Group SPLC’s Secret Cayman Island Accounts Exposed; Do the Donors Know?

Posted by DanielS on Friday, 08 September 2017 01:45.

New Observer, “Jewish Extremist Hate Group SPLC’s Secret Cayman Island Accounts Exposed; Do the Donors Know?”, 31 Aug 2017:

One of America’s most notorious Jewish extremist hate groups, the SPLC, has been exposed as stashing millions of dollars in cash—presumably from donors—in secret Cayman Island bank accounts, according to a new report in the Washington Free Beacon (WFB)  news service.

The SPLC, which poses as an “anti-racist” organization, is merely another Jewish extremist pressure group—like its sister organization, the ADL.

According to the WFB, the SPLC, which is registered as a 501(c)(3) tax-exempt charitable organization, has pushed “millions of dollars to offshore entities.”

Additionally, the Free Beacon said, the SPLC “pays lucrative six-figure salaries to its top directors and key employees while spending little on legal services despite its stated intent of ‘fighting hate and bigotry’ using litigation, education, and other forms of advocacy.”

Quoting the SPLC’s own tax return records, the WFB said that the SPLC has

“ . . . ‘financial interests’ in the Cayman Islands, British Virgin Islands, and Bermuda. No information is available beyond the acknowledgment of the interests at the bottom of the form.

However, the Washington Free Beacon discovered forms from 2014 that shed light on some of the Southern Poverty Law Center’s transfers to foreign entities.

The SPLC’s Form 8865, a Return of U.S. Persons With Respect to Certain Foreign Partnerships, from 2014 shows that the nonprofit transferred hundreds of thousands to an account located in the Cayman Islands.

SPLC lists Tiger Global Management LLC, a New York-based private equity financial firm, as an agent on its form. The form shows a foreign partnership between the SPLC and Tiger Global Private Investment Partners IX, L.P., a pooled investment fund in the Cayman Islands. SPLC transferred $960,000 in cash on Nov. 24, 2014 to Tiger Global Private Investment Partners IX, L.P, its records show.

The SPLC’s Form 926, a Return by a U.S. Transferor of Property to a Foreign Corporation, from 2014 shows additional cash transactions that the nonprofit had sent to offshore funds.

The SPLC reported a $102,007 cash transfer on Dec. 24, 2014 to BPV-III Cayman X Limited, a foreign entity located in the Cayman Islands. The group then sent $157,574 in cash to BPV-III Cayman XI Limited on Dec. 31, 2014, an entity that lists the same PO Box address in Grand Cayman as the previous transfer.

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.

Lucinda Chappelle, a principal at Jackson Thornton, the public accounting firm in Montgomery, Ala., that prepared the SPLC’s tax forms, said she does not discuss client matters and hung up the phone when the Free Beacon contacted her in an attempt to get the most updated forms from the group in relation to its foreign business dealings.

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.

In addition, the WFB said, the SPLC “pays lucrative salaries to its top leadership,” using as an example its president and chief executive officer, Richard Cohen, who got $346,218 in base compensation in 2015, and $20,000 more in other reportable compensation and non-taxable benefits.

The minimum amount paid to an officer, director, trustee, or key employee in 2015 was $140,000 in base salary, not including other compensation.  The SPLC spent $20 million on salaries throughout the year, but reported spending only $61,000 on legal services in 2015.



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Posted by Congresswoman Rice directs $ to YKW concerns on Sat, 09 Sep 2017 01:03 | #

         

        Kathleen Rice

Five Towns Patch, “Local Jewish Organizations Get Nearly $450,000 To Upgrade Security”, 7 Sept 2017:

The money will help make the buildings of the schools and synagogues safer.

Congresswoman Kathleen Rice announced on Thursday that the Department of Homeland Security awarded nearly $450,000 for security enhancements to six local Jewish organizations.

The money is intended to increase security at the buildings that are at a high risk of a terrorist attack. Central Synagogue-Beth Emeth in Rockville Centre, the Hebrew Academy of Long Beach, the Hebrew Academy of the Five Towns and Rockaway, Kulanu Academy in Cedarhurst and the Young Israel of Woodmere were each awarded $75,000 in funds, and Kehilas Bais Yehudah Tzvi in Cedarhurst was awarded $74,800.

“At a time when acts of anti-Semitism have dramatically increased in the U.S. and the threat of terrorism continues to evolve, one of the most effective things we can do is to help potential targets enhance their security and emergency response capabilities and prepare for worst case scenarios,” said Rice, a Democrat from Garden City. “I’m pleased that we secured this funding to help enhance security measures at Jewish nonprofits in our district, and I’ll continue working to ensure that all of our communities have the resources and support they need to keep people safe.”

“We are thrilled to receive the grant,” said Rabbi Marc A. Gruber of Central Synagogue Beth Emeth. “Especially in these troubled times, it will help keep the people coming to our synagogue feel more secure in their home away from home.”

This is not the first time Rice has helped secure funding for local Jewish organizations. Last year, Rice helped get nearly $575,000 in funds for eight Jewish nonprofit organizations: Congregation Aish Kodesh in Woodmere, the Hebrew Academy of Long Beach, the Hebrew Academy of the Five Towns and Rockaway, the Hebrew Academy of Nassau County, the Merrick Jewish Centre, Yeshiva of South Shore in Hewlett, Young Israel of Lawrence-Cedarhurst, and Young Israel of Oceanside.

“We live in a very scary age, and so it is a priority of mine to fight to ensure that synagogues and other religious institutions are protected,” said State Senator Todd Kaminsky, who represents the area. “I am happy that local facilities will benefit from this grant and I thank Congresswoman Rice for her fantastic advocacy on behalf of Long Island.”

       



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