Skip to comments.Southern Poverty Surpasses Half Billion in Assets; $121 Million Now Offshore
Posted on 03/12/2019 5:10:32 AM PDT by Mount Athos
The Southern Poverty Law Center (SPLC), a far-left nonprofit known for its "hate group" designations, has surpassed a half billion dollars in total assets and now has $121 million parked offshore, according to the group's most recent financial statements.
The SPLC, which is based in Montgomery, Ala., has not publicly posted its most recent financial statements on its website. However, the organization applied for renewal in the state of California days ago and submitted a number of documents pertaining to its financial standing including its most recent audited statement and tax forms for calendar year 2018, which covers Nov. 1, 2017 to Oct. 31, 2018.
According to the filings submitted to California's Office of Attorney General, the group reported total assets of $518 million from November 2017 to the Oct. 31, 2018, an increase of $41 million from the $477 million in total assets it reported on its previous year's tax forms.
The SPLC's assets increased despite its total revenue falling by $15 million last year. The SPLC hauled in $136 million in total revenue throughout 2017. This number fell to $121 million in 2018. Its contributions and grants also fell by more than $20 million from 2017 to 2018, from $132 million to $111 million.
Despite the fall in revenue, the SPLC's vast investment portfolio expanded in 2018, which included a drastic increase in the amount of money it has parked overseas. By the end of 2018, its non-U.S. equity funds rose to $121 million, an uptick of nearly $30 million from the $92 million it had parked in offshore investments throughout 2017.
While little is known about its actual transfers to offshore entities, in 2017 the Washington Free Beacon discovered foreign forms from the group that showed a small fraction of its previous transactions to a number of entities located in the Cayman Islands. Those foreign forms are not required to be publicly disclosed by the SPLC and are the only known forms showing the nature of its transfers to offshore entities. The SPLC also has interests in Bermuda and the British Virgin Islands.
In addition to the $121 million now in non-U.S. equities, the far-left organization reported $91 million in U.S. public equity funds. Its U.S. and non-U.S. equities include publicly traded stocks of domestic and international corporations. The $92 million the group had tied up in U.S. public equity funds last year was $16 million more than it had the year before.
The SPLC also had $60 million in private equity funds, or investments in buyouts, venture capital, and distressed companies while another $24 million was in real asset funds, which include investments in real estate and natural resources such as oil, gas, and commodities, according to its forms.
One new development on its 2018 financial statements is the formation of another entity tied to the organization.
According to the audited financial statement, the SPLC formed an Action Fund in June 2018, which is consolidated since the SPLC has "both an economic interest in the Action Fund and control of the Action Fund through a majority voting interest in its governing board."
The SPLC's Action Fund filed an application for tax exempt status with the Internal Revenue Service as a 501(c)(4) nonprofit, or that of a "social welfare" group. The Action Fund allows the group "greater flexibility" to engage in "legislative battles at every level of government" and to support "critical ballot initiatives."
The SPLC did not respond to a request for comment on its most recent financial statements by press time.
Last year, the Daily Caller reported the SPLC partnered with tech giants such as Amazon, Facebook, Google, and Twitter to help the companies determine who are "hate groups." PayPal had also partnered with the SPLC to help determine who should be "blacklisted" from their company.
The SPLC has come under fire for lumping in mainstream conservative groups, such as the Family Research Council, into categories with actual "hate groups" such as the Ku Klux Klan.
Dozens of organizations contemplated suing the SPLC over its hate group designations after the SPLC had entered into a $3 million settlement with Maajid Nawaz, a Muslim reformer, after including him in its 2016 "Field Guide to Anti-Muslim Extremists."
Additionally, a lawsuit was later filed against the SPLC alleging that the nonprofit runs an "illegal racket to silence political opponents."
Do they list themselves?
Parked off shore, another foundation set on killing the American foundation
Can somebody tell me WTH a hate group is?
Marxists must work day and night to find the right meaningless catch phrases to further their agenda.
In America poverty is lucrative.
How did they obtain such assets? Extortion from companies, pay us we will list you?
That old Klan lawyer is making a mint.
Looks like we need an Executive Order to ‘repatriate’ those hundreds of millions...and use them to BUILD THE WALL!
A lot of poverty around Montgomery - they could spread some of that bread around. But won’t.
5-min video. wonder if this has been dealt with:
27 Jul 2018: FBI’s ties to Southern Poverty Law Center uncovered
The FBI has a long history of collaborating with the Southern Poverty Law Center. In 2009, an FBI memo described the SPLC as a “credible” organization.
The Department of Justice told Tucker Carlson Tonight that the FBI will “reevaluate their relationships with groups like this to ensure the FBI does not partner with any group that discriminates.”
Big liberal donors like the hate being promoted by the SPLC.
SPLChate group extraordinaire.
And Morris Dees is as crooked as the day is long.
Aided and abetted by SPLC, this is the America Obama despises——tarred as extremists by his admin;
alarm bells should go off when the obedient media, and lefty Democrats speak of the need to crack down on extremism.
Obama Declares War On Extremism Are You An Extremist
FR Posted 1/13/15 by seekandfind
A list of 72 types of Americans that are considered to be extremists or potential terrorists in official U.S. government documents. This list will really give you a good idea of what Barack Obama means when he uses the word extremist. Each of these 72 items is linked (at web site). As you can see, this list potentially includes most of the country
OBAMA’S LIST OF EXTREMISTS AS FOUND IN OBAMA-ERA OFFICIAL GOVERNMENT DOCUMENTS: Those that talk about individual liberties, that advocate for states rights, that want to make the world a better place, that are interested in defeating the Communists
Those that believe that the interests of ones own nation are separate from the interests of other nations or the common interest of all nations. Anyone that holds a political ideology that considers the state to be unnecessary, harmful,or undesirable. Anyone that possesses an intolerance toward other religions. Those that take action to fight against the exploitation of the environment and/or animals
Anti-Gay, Anti-Immigrant, Anti-Muslim,The Patriot Movement, Opposition to equal rights for gays and lesbians
Members of the Family Research Council, the American Family Association, Members of the American Border Patrol/American Patrol, the Federation for American Immigration Reform, the Tennessee Freedom Coalition, the Christian Action Network, citizens networks.
Those opposed to the New World Order, engaged in conspiracy theorizing, those that believe that Mexico, Canada and the United States are secretly planning to merge into a European Union-like entity that will be known as the North American Union
Anyone opposed to Agenda 21, anyone concerned about FEMA camps, that fears impending gun control or weapons confiscations, the militia movement, sovereign citizen movement, that dont think they should have to pay taxes
Anyone that complains about bias, that believes in government conspiracies, that is frustrated with mainstream ideologies, that visits extremist websites/blogs, that establishes website/blog to display extremist views,” that attends rallies for extremist causes, that exhibits extreme religious intolerance,” that is personally connected with a grievance, that suddenly acquires weapons, that organizes protests inspired by extremist ideology
Militia or unorganized militia, General right-wing extremist, Citizens that have bumper stickers that are patriotic or anti-U.N., those that refer to an Army of God, that are fiercely nationalistic (as opposed to universal and international in orientation), that are anti-global, that are suspicious of centralized federal authority, that revere individual liberty, that believe in conspiracy theories
Those that have a belief that ones personal and/or national way of life is under attack, that possess a belief in the need to be prepared for an attack either by participating in paramilitary preparations and training or survivalism, that would impose strict religious tenets or laws on society (fundamentalists) that would insert religion into the political sphere, that would seek to politicize religion, that have supported political movements for autonomy.
Anyone that is anti-abortion.
Anyone that is Rightwing” including Returning veterans, those concerned about illegal immigration, those that believe in the right to bear arms, anyone that is engaged in ammunition stockpiling
Anyone that exhibits fear of Communist regimes Anti-abortion activists” those against illegal immigration, those that talk about the New World Order in a derogatory manner
Those that have a negative view of the United Nations, that are opposed to the collection of federal income taxes, that supported former presidential candidates Ron Paul, Chuck Baldwin and Bob Barr, that display the Gadsden Flag (Dont Tread On Me)
Those that believe in end times prophecies, including Evangelical Christians.
How can a non-profit accumulate a half-billion in profit?
Faux outrage and rigorous outrage fund raising...
Id bet contributions are funneled from other democrat PACs into the SPL as another angle of attack.
Demand that the scope and dimension of collusion in sub rosa deals be examined, as to who might be personally
profiting, and if financing domestic terrorism is being facilitated.
<><> L/E needs to examine bank accounts of the aforementioned.
<><> Joint bank accounts might be used to facilitate the transfer funds from one account to another, and/or wire-transferred offshore;
<><> To cover their tracks, fake invoices might be created to show that money deposited into SPLC accounts was being used for legitimate purposes.
<><> Financial schemes scheme might be advanced by issuing phony statements of payments from financial sources that actually covered the transfer of funds for insiders' personal use and/or for financing domestic terrorism.
Shady banking transactions could be prosecuted under the (1) Bank Secrecy ACT, (2) RICO, and, (3) the Hobbs Act.
<><> L/E should get ahold of: (1) copies of SPLC checks, (2) wire transfers, (3) account statements, (4) invoices, (5) bills, (6) delivery tickets, (7) SPLC correspondence including snail mail, e-mail, mobile devices, cell phones, (8) contracts, (9) loan agreements, (10) other account books or official records.
L/E should also explore (a) monies paid to brokers, sub- brokers, (b) family members, (c) mortgage brokers, (d) financial managers, and, (e) real estate agents, brokers, and developers.
<><> L/E should scrutinize bank accounts for suspicious activites: (A) large deposits, (B) funds transferred from one account into another, (C) frequent requests for withdrawals.
<><> SPLC bank records might also show diversions to secret LLC accounts, to money launder and to operate personal ventures;
Tax fraud may also be a factor, facilitated by withdrawals, gift cards purchases, credit card purchases and intra-bank transfers from legal bank accounts into personal accounts, or redistribution schemes.
<><> A huge tipoff is whether SPLC bank withdrawals support luxurious lifestyle including payments for real estate, investment and stock holdings, jewelry, luxury vehicles, resort travel....... and gifts and purchases from luxury outlets.
They need to be sued by the guy Sandman is using.
Anti-white terrorist group has lots of money. Welcome to Clown World. Honk! Honk!
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.