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MrMark
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27 Dec 2007, 10:45 pm

Alex, perhaps you could establish a separate site where this and other information is posted. When we see Autism Speaks getting good press on sites with a comments section, we could post links to the information.


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zendell
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28 Dec 2007, 12:12 am

The stock sales are most likely them selling stocks that people donated to them.

If you own stocks that have increased in value and you are planning on donating to charity, it is better to donate stocks instead of selling them and donating cash because you are able to avoid paying capital gains taxes (thats my understanding of US tax law although I'm not an expert so this isn't tax advice)

As for the private jet costs listed as entertainment expenses, I'm thinking it has to do with them flying entertainers in for a fund raising event.



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28 Dec 2007, 2:38 pm

alex wrote:
here's the day trading:


Image


This does look right, donations being sold off. Donations can be deducted at current market, and avoid the Capital Gains Tax.

There were only a few errors,

Intrgra Bank Corp, the date of sale is off by a year, and the loss overstated by $1.

EHEALTH the loss over by $1

Emerson Elec. Gain over stated by $1

Analog loss over stated by $1

Citigroup Loss understated by $1

Gilead Sciences did do a one day spike of 1% and was sold as soon as the market opened the next day. It was a good move because it dropped just as quickly.

Typical sloppy bookkeeping, rounding to the nearest dollar.



TheZ
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28 Dec 2007, 2:53 pm

EvilKimEvil wrote:
Even small non-profits can be quite corrupt. I once ended up working for a "non-profit" thrift store that funded the owner's large house, fancy car, and sedentary lifestyle. She sold most of the donations on eBay and paid her employees minimum wage. She was always paranoid that I was looking at the donations before she had gotten a chance to go through them for items that would have value on eBay. If one person can manipulate a small non-profit into a good source of income, just imagine what larger ones can do. There needs to be more awareness about corruption in non-profits and ways to investigate them before donating.


Reminds me of a place I used to work called The Geek Group



zendell
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28 Dec 2007, 3:55 pm

Quote:
Typical sloppy bookkeeping, rounding to the nearest dollar.


I think it's supposed to be done that way. With Integra Bank Corp it might have been:
Proceeds (sale price) $415.60 (rounds to $416)
Basis (value when donated) $418.45 (rounds to $418)
Loss $-2.85 (rounds to $-3)

The companies keeps records of exact amounts and uses them in calculations. They round when reporting results to make it easier to read. Sometimes, they round to the nearest thousand. So $4,582,520 would be reported as Gain (in thousands) $4,483. When a company receives $20 million a year, reporting a few pennies doesn't make a difference.