Major Development: Former Democratic Rep. Stacey Abrams Lands In Big Trouble After Over $500,000 Goes Missing From Charity
As per the tax filing records by “New Georgia Project”, a charitable organization which is directly associated with her, around $500,000 are missing.
According to a newly released report by the Washington Free Beacon, the former Democratic Rep. from Georgia, Stacey Abrams, could be under serious trouble because of unreported income.
The report by the Washington Free Beacon revealed that New Georgia Project claimed that they paid over half million dollars as consulting charges to another non-profit organization, “The Black Male Initiative”.
However, The Black Male initiative asserted that they never received any funds from the charitable organization.
The report stated:
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’s hand-picked leader for the group. In the disclosure, the New Georgia Project reports a $533,846 consulting payment and a $67,500 grant to the Black Male Initiative, an obscure charity 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 consulting income and just $255,000 in contributions from all sources in 2021.
While talking with the Washington Free Beacon, a non-profit lawyer, Alan Dye, stated:
“This is something that the Internal Revenue Service should be interested in particularly with the added element of the former officer possibly pocketing the money. Something’s rotten in the state of Denmark.”
The report also added that the tax filings have also revealed several other financial discrepancies as well.
The report disclosed:
The missing $533,000 is not the only discrepancy on the New Georgia Project’s tax forms, which contains information that accountants say is “just not possible.” The group’s 2020 financial disclosure, for example, states that the New Georgia Project paid zero dollars in payroll taxes that year.
“I have no idea how a charity can have 173 paid employees and pay no payroll taxes. It’s just not possible,” said Dye. “I can’t answer that question. There should be no excuse for that.”
There is also massive fluctuation in the annual compensation figures. The charity claimed on its 2021 Form 990 that it paid out $5,671,892 in total compensation that year for 105 employees, and that it paid $19,142,227 on salaries the previous year. But forms filed in 2020 say the group paid just $1,914,227 on salaries for 173 employees, a discrepancy of more than $17 million. It is unclear which form, if any, gives the accurate compensation figure for 2020. If the $1.9 million figure is accurate for 2020, that would mean pay skyrocketed even as the number of staffers fell in 2021.
One thought on “Major Development: Former Democratic Rep. Stacey Abrams Lands In Big Trouble After Over $500,000 Goes Missing From Charity”
He Should be arrested for treason. Should have been already.