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Henry Louis Gates’ Foundation to Revise Tax Return
web cpa ^ | July 28, 2009 | web cpa

Posted on 07/29/2009 4:01:21 PM PDT by tired&retired

Henry Louis Gates’ Foundation to Revise Tax Return Cambridge, Mass. (July 28, 2009)

By WebCPA Staff

A nonprofit foundation run by Harvard professor Henry Louis Gates Jr. is filing an amended 2007 tax return after it was found to have mischaracterized $11,000 in payments to officials as research grants.

Gates founded the Inkwell Foundation four years ago to conduct research and education about African and African-American history and culture. The foundation apparently reported a $10,000 grant to Joanne Kendall, the foundation’s treasurer, who is also Gates’ assistant at Harvard. In addition, the foundation made a $1,000 payment to secretary Abby Wolf that was mistakenly listed as research.

Henry Louis Gates Jr. Gates told public interest journalism site ProPublica that the research grants were mischaracterized on the foundation’s Form 990. “It should have been listed as compensation,” he said.

Advertisement Gates also told the Boston Globe that it was simply an error. “It’s a very minor issue, just a simple mistake from the account,’’ he said. “It will all be rectified, and all is well.’’

The foundation’s accountant admitted to ProPublica that he didn’t understand why the payments were misclassified, but that he planned to file an amended return in a week or so.

Gates was arrested on July 16 by Cambridge, Mass., police for disorderly conduct after an eyewitness reported a possible break-in at his home. The professor had been returning home after a trip abroad, and he and his driver found the front door to be jammed, so he needed to use the back door instead. The arrest provoked accusations of racial profiling, and the controversy ramped up after President Obama criticized the police for acting “stupidly” at a news conference last week. Charges against Gates were quickly dismissed, and Obama has invited Gates and the arresting officer, Sgt. James Crowley, to the White House for a beer to defuse the controversy.


TOPICS: Business/Economy
KEYWORDS: gates; henrygates; henrylouisgates; inkwell; inkwellfoundation; mrskippy; tax; taxevasion

1 posted on 07/29/2009 4:01:21 PM PDT by tired&retired
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To: tired&retired

Given how big their total tax return probably was, this sounds like chump change.


2 posted on 07/29/2009 4:02:56 PM PDT by HiTech RedNeck (The Democrat Party: a criminal organization masquerading as a political party)
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To: tired&retired

Audit every damn line item. Including his return.

And go back several years.


3 posted on 07/29/2009 4:02:57 PM PDT by A_Former_Democrat
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To: tired&retired
LOL these race baiters are all the same.

Its all about the Benjamins.

4 posted on 07/29/2009 4:04:13 PM PDT by skeeter
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To: tired&retired

Yeah could happen to anyone. Form a foundation. Give grant money to friends. When you get caught or are about to get caught report it as salary. Yeah that works.


5 posted on 07/29/2009 4:05:13 PM PDT by w1andsodidwe (Jimmy Carter(the Godfather of Terror) allowed radical Islam to get a foothold in Iran.)
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To: tired&retired

Frankly, I am tired of it. Until we are ready to call for their heads, I no longer care.

You get what you allow. Bottom line.


6 posted on 07/29/2009 4:09:34 PM PDT by dforest (Who is the real Jim Thompson? I am.)
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To: tired&retired
"mischaracterized "

Is that the fashionable thing they are calling "lies" now?

7 posted on 07/29/2009 4:11:14 PM PDT by Mr. K (THIS ADMINISTRATION IS WEARING OUT MY CAPSLOCK KEY DAMMIT DAMMIT DAMMIT!!!!!)
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To: tired&retired

Oh, I don’t know. Maybe they can call those lap dances at Benny’s Topless Gentlemen’s Club some sort of multicultural “research”.


8 posted on 07/29/2009 4:11:55 PM PDT by Seruzawa (Obamalama lied, the republic died.)
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To: w1andsodidwe

Are grants and income taxed differently? I would think so! Not sure. Tax fraud?


9 posted on 07/29/2009 4:14:03 PM PDT by Dr. Bogus Pachysandra ( Ya can't pick up a turd by the clean end!)
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To: tired&retired

lift a rock and there you have it ... slime and filth.


10 posted on 07/29/2009 4:15:38 PM PDT by OldNavyVet (The essence of evil lies in the irrational..)
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To: tired&retired
“It should have been listed as compensation”

How can someone so smart, a professor no less, make such a stupid mistake? Especially since he must know, being a professor of African history and all that crap, that compensation is subject to FICA, Medicare, and federal withholding? Oh .... gee whiz .... just a sloppy mistake. Yeah .... right.

11 posted on 07/29/2009 4:16:30 PM PDT by layman (Card Carrying Infidel)
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To: tired&retired

Gate’s has to be sweatingin it if he is going back to check his own returns...

Maybe he knows they could not withstand close scrutiny?

Maybe some JAIL TIME for filing a false return is in order?


12 posted on 07/29/2009 4:16:34 PM PDT by Mr. K (THIS ADMINISTRATION IS WEARING OUT MY CAPSLOCK KEY DAMMIT DAMMIT DAMMIT!!!!!)
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To: tired&retired

Can’t be a buddy of Obama’s without cheating on your taxes...


13 posted on 07/29/2009 4:21:59 PM PDT by glorgau
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To: tired&retired

The interesting thing is.... this is fraud! They have purposely transferred personal expenses of Gates which at best would be admin. expenses as non profit program expenses. I will look at the rest of the return as it it should be available on public record.


14 posted on 07/29/2009 4:23:58 PM PDT by tired&retired
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To: tired&retired
This is unbelievable!
15 posted on 07/29/2009 4:25:49 PM PDT by Cheetahcat (Zero the Wright kind of Racist! We are in a state of War with Democrats)
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To: Mr. K
"mischaracterized "

Is that the fashionable thing they are calling "lies" now?

You have to admit that it has more eclat than "misspoke"...

16 posted on 07/29/2009 4:28:24 PM PDT by okie01 (THE MAINSTREAM MEDIA: Ignorance on Parade)
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To: tired&retired

Bookmarked


17 posted on 07/29/2009 4:34:24 PM PDT by Dubya (Jesus saith unto him, I am the way, the truth, and the life: no man cometh unto the Father,but by me)
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To: okie01

miscalibrated


18 posted on 07/29/2009 4:34:31 PM PDT by palmer (Cooperating with Obama = helping him extend the depression and implement socialism.)
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To: tired&retired
Surprise, surprise, another of Obama’s buddies having trouble filing his taxes correctly.
19 posted on 07/29/2009 4:35:59 PM PDT by RJL
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To: tired&retired

BlackIrish (nigmics) go free


20 posted on 07/29/2009 4:36:15 PM PDT by bert (K.E. N.P. +12 . fasl el-khitab)
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To: tired&retired; Tax-chick
Oh, the devil is in the details!!! Ok now, let's see how the recipients classified it on their tax returns. As income, right? Sure. That would be the case if it was simply an accounting error on the foundation's part. but obviously the treasurer and secretary knew it was salary and reported it as such, right? Otherwise, there might be fraud and collusion going on.
21 posted on 07/29/2009 4:36:32 PM PDT by NonValueAdded (What if the Sanction of the Victim is withdrawn?)
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To: palmer
miscalibrated

LOL. The nouveau form...

22 posted on 07/29/2009 4:37:09 PM PDT by okie01 (THE MAINSTREAM MEDIA: Ignorance on Parade)
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To: tired&retired

Cooking the books to make it look like they are actually doing something.


23 posted on 07/29/2009 4:38:56 PM PDT by AppyPappy (If you aren't part of the solution, there is good money to be made prolonging the problem.)
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To: indylindy; All
Until we are ready to call for their heads, I no longer care.

I feel the same way....curious how many others do.
24 posted on 07/29/2009 4:40:39 PM PDT by Red in Blue PA (If guns cause crime, then all of mine are defective!)
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To: HiTech RedNeck
Dan Riehl had a post on this on Saturday -- the foundation has come under criticism before, by the Boston Globe, among others.

The $11,000 was about 40% of their total expenditures: "the [2007 return] declares the charity received $205,400 in direct support, but declares only $27,600 in total expenditures for program services."

A Gatesgate At Henry Gates' "Bogus" Charity?

There's a lot more about Gates' "charitable" and business enterprises at the link.

25 posted on 07/29/2009 4:44:04 PM PDT by browardchad
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To: tired&retired

The tax return appears to be a sham as the source of the revenue(donations) section is not completed. The payments do not qualify for the described purpose of the organization, and a large portion of the program expenditures were not (non-profit) recipients.

This private foundation would lose its non-profit status under even the most lienient analysis of the organization.

Here is the link to the return. Better download it before it disappears. The 1023 application should also be available if you want to see it.

http://www.guidestar.org/FinDocuments/2007/020/756/2007-020756843-047b169d-9.pdf


26 posted on 07/29/2009 4:47:38 PM PDT by tired&retired
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To: tired&retired

Contact Information:
INKWELL FOUNDATION INC
Physical Address:17 Ware St
% Henry Louis Gates Jr
Cambridge, MA 02138


27 posted on 07/29/2009 4:50:05 PM PDT by tired&retired
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To: tired&retired

This would be a guaranteed audit if you turned him in as the annual tax return is clearly incomplete and incorrect.


28 posted on 07/29/2009 4:51:39 PM PDT by tired&retired
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To: tired&retired

Dime to a dollar that he claimed the charitable contribution on his own return and that the art work listed as “owned” by the foundation is hanging at his house. This alone is grounds for total disqualification.


29 posted on 07/29/2009 4:54:15 PM PDT by tired&retired
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To: okie01
"mischaracterized "

Anything like "calibrating your words"?

30 posted on 07/29/2009 5:02:47 PM PDT by SERKIT ("Blazing Saddles" explains it all.....)
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To: SERKIT

My intuition as a fraud investigator and a CPA tells me that if one were to cross reference the payouts listed to individuals that they just might cross reference to presidential political contributions per the national political contributions database. In short... it may have been an Obummer fundraising org.


31 posted on 07/29/2009 5:15:10 PM PDT by tired&retired
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To: HiTech RedNeck
They are a nonprofit. They probably paid no taxes at all on their return.
32 posted on 07/29/2009 5:32:13 PM PDT by hinckley buzzard
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To: tired&retired
In short... it may have been an Obummer fundraising org.

Well, that pattern seems to fit. You may just be right, but then, the entire (and historic) $700+M campaign war chest was never audited, not will it ever be, apparently.

33 posted on 07/29/2009 6:07:03 PM PDT by SERKIT ("Blazing Saddles" explains it all.....)
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