The Stacey Abrams charity ‘New Georgia Project’ has a potential tax problem.
According to a new investigative report, the group is ‘missing’ $500,000. This isn’t a minor accounting error, it’s a potential crime.
Charities are carefully regulated when it comes to finances. They just don’t accidentally misplace hundreds of thousands of dollars, at least they shouldn’t.
The Washington Free Beacon broke this story:
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The Stacey Abrams charity has a $500,000 problem in its latest tax filing
More than half a million dollars is missing from the New Georgia project, which experts say is the basis 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’ hand-picked leader. In the disclosure, the New Georgia Project reported $533,846 in consulting payments and $67,500 in donations to the Black Male Initiative, an obscure charity run by Yuft’s brother, Edima, a former New Georgia Project employee.
But the Black Male Initiative says it has received no such consulting payments. The group provided its IRS financial disclosures to the Washington Free Beacon, which show it collected $0.00 in consulting income from all sources and $255,000 in contributions in 2021.
The ethical questions raised by the missing money are the latest stumbling block for the beleaguered charity.
This does not look good.
NGP reported paying $533,846 in consulting payments in 2021 to an obscure charity called the Black Male Initiative.
But BMI said it received no such consulting payments. 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 is rotten in the state of Denmark,” said Alan Dye, an attorney who specializes in nonprofit law.
“It’s something the Internal Revenue Service should be interested in,” he said.
— Andrew Kerr (@AndrewKerrNC) February 16, 2023
The New Georgia Project is one of the nation’s largest voter mobilization groups. Its Form 990 financial disclosures show it and its authorized action fund raised a combined $54.7 million in 2020 and 2021.
Financial disclosures are riddled with errors and inconsistencies
— Andrew Kerr (@AndrewKerrNC) February 16, 2023
One thing Abrams has going for him is that he’s a Democrat media darling, so the press will cover for him as long as they can.