Stacey Abrams’ charity ‘New Georgia Project’ has a potential tax problem.
According to a new investigative report, the group is ‘missing’ $500,000. That’s not a minor miscalculation, it’s a potential felony.
Charities are carefully regulated when it comes to finances. They don’t just accidentally misplace hundreds of thousands of dollars, at least they don’t have to.
The Washington Free Beacon broke the story:
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Stacey Abrams Charity has a $500,000 problem in its most recent tax filing
More than half a million dollars is missing from the New Georgia project, a discrepancy experts say is the basis for state and federal investigations by a group Stacey Abrams-founded and the woman Abrams tapped to lead.
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’ chosen leader of the group. In the disclosure, the New Georgia Project reported a $533,846 consulting payment and a $67,500 grant to the Black Mail Initiative, which is run in part by Ufot’s brother, Edima, a former New Georgia Project employee.
But the Black Male Initiative says it never received any such consulting payment. The group provided the Washington Free Beacon with its IRS financial disclosures, which show it collected $0 in 2021 contributions from all sources and just $255,000 in consulting income.
Ethical questions raised by the missing money are the latest stumbling block for the embattled charity.
It doesn’t look good.
The NGP reported making a $533,846 consulting payment in 2021 to an obscure charity called the Black Mail Initiative.
But BMI says it never received any such consulting payment. In fact, it received $0 in consulting revenue 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, a lawyer specializing 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 largest voter mobilization groups in the country. Its Form 990 financial disclosures show that, and its Combined Action Fund raised a total of $54.7 million in 2020 and 2021.
Financial disclosures are riddled with errors and discrepancies
— Andrew Kerr (@AndrewKerrNC) February 16, 2023
One thing Abrams has going for her is that she’s the darling of the Democrat media, so the press will cover her as long as they can.
