Wednesday, January 11, 2006

Stopping con artists who use nonprofits

Arianna Huffington suggests a few fixes to nonprofit law in order to stop folks like Abramoff from using 501c3 organizations to launder money. One idea is to require public disclosure of donations and specific donors. I don't favor this approach because one of the biggest assets a legitimate nonprofit group develops is its donor list. Often donors wish to remain anonymous. Why should the majority be punished by the acts of crooks?

A better option is to uphold current law.

In 2002, the Capital Athletic Fund only showed two human beings listed as board members and one "LLC", the Capital Athletic Fund, LLC. This is ridiculous on its face! States and the IRS should require nonprofit organizations to have at least five board members, all of which must be actual HUMAN beings.


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