A new report shows the Southern Poverty Law Center, a prominent left-wing nonprofit often cited by major media outlets, has transferred millions of dollars to offshore entities in recent years, an unusual move for a group of its kind.
The Washington Free Beacon uncovered IRS documents from 2014 on the SPLC's website that reveal is "pushes millions of dollars to offshore entities as part of its business dealings."
Per the Free Beacon's report:
The SPLC's Form 8865, a Return of U.S. Persons With Respect to Certain Foreign Partnerships, from 2014 shows that the nonprofit transferred hundreds of thousands to an account located in the Cayman Islands.SPLC lists Tiger Global Management LLC, a New York-based private equity financial firm, as an agent on its form. The form shows a foreign partnership between the SPLC and Tiger Global Private Investment Partners IX, L.P., a pooled investment fund in the Cayman Islands. SPLC transferred $960,000 in cash on Nov. 24, 2014 to Tiger Global Private Investment Partners IX, L.P, its records show.The SPLC's Form 926, a Return by a U.S. Transferor of Property to a Foreign Corporation, from 2014 shows additional cash transactions that the nonprofit had sent to offshore funds.The SPLC reported a $102,007 cash transfer on Dec. 24, 2014 to BPV-III Cayman X Limited, a foreign entity located in the Cayman Islands. The group then sent $157,574 in cash to BPV-III Cayman XI Limited on Dec. 31, 2014, an entity that lists the same PO Box address in Grand Cayman as the previous transfer.
According to documentation, this activity wasn't isolated to 2014. "On March 1, 2015, SPLC sent $2,200,000 to an entity incorporated in Canana Bay, Cayman Islands, according to Securities and Exchange Commission (SEC) records and run by a firm firm based in Greenwich, Ct. Another $2,200,000 cash transfer was made on the same day to another fund whose business is located at the same address as the previous fund in the Cayman Islands, according to SEC records," the Free Beacon's Joe Schoffstall wrote.
The report quoted two experts reacting to the revelations as "[stunning]" and "unusual."
"I've never known a US-based nonprofit dealing in human rights or social services to have any foreign bank accounts," Amy Sterling Casil of Pacific Human Capital said.
As the Washington Examiner noted last week, the Alabama-based SPLC is regarded as an objective arbiter of hate by major media outlets who routinely cite its biased designations of hate groups that lump proponents of traditional Christian values into the same categories as neo-Nazis and the KKK.
Its practices are fraudulent, but progressives such as Apple CEO Tim Cook and George Clooney have both recently committed large-dollar donations to the organization in the wake of violence that rocked Charlottesville, Va.
Observers on both the Left and the Right recognize the SPLC's dishonesty. The group's apparent habit of exploiting tragedy to amass tens of millions of dollars in donations that don't always end up going to the poor has been explored in the past, notably by liberal journalist Ken Silverstein as early as 2000, making these new reports look even shadier.
In 2010, Silverstein wrote, "the SPLC shuts down debate, stifles free speech, and most of all, raises a pile of money, very little of which is used on behalf of poor people."
If an anti-poverty nonprofit is sending money to the Cayman Islands, you don't expect it to be going into offshore bank accounts.
Emily Jashinsky is a commentary writer for the Washington Examiner.