DAVID BROCK
Posted on 04/25/2020 2:38:32 PM PDT by bitt
A conservative watchdog group filed three complaints against organizations founded and operated by Media Matters founder David Brock.
The Patriots Foundation accused Brock’s nonprofit group American Bridge Foundation of violating IRS rules by transferring $2.7 million in tax-exempt assets to a for-profit media company owned by Brock.
“We’re calling on the IRS to conduct a thorough investigation of Brock’s organizations and to hold them accountable for all violations,” Patriots Foundation president Craig Robinson said in a statement.
Media Matters for America founder David Brock reaped illegal profits through the transfer of millions from a nonprofit he founded to a for-profit entity under his control, according to an IRS complaint filed by a conservative watchdog group.
The complaint detailed how Brock’s nonprofit group American Bridge Foundation (AB Foundation) transferred $2.7 million in tax-exempt assets to True Blue Media, a for-profit company owned by Brock that is the parent company of ShareBlue, a for-profit media company now known as The American Independent. The transfers violated IRS rules that prohibit nonprofit organizations from using their tax-exempt resources to pay personal or private expenses of any key figures connected to the nonprofit, the complaint stated.
AB Foundation’s transfers to True Blue Media were disclosed in the nonprofit’s Form 990s filed to the IRS in 2017 and 2018.
AB Foundation’s sister super PAC, AB PAC, announced plans in March to spend $50 million on ads targeting President Donald Trump. AB PAC also reportedly brokered an alliance in March with another super PAC, Unite the Country, which supports former Vice President Joe Biden’s presidential bid.
(Excerpt) Read more at dailycaller.com ...
Mark Levin has called Media Matters a criminal front group for years based on their phony 501(c)3 status.
If there are any investigative reporters out there I have a lead on David Brock dirt.
A progressive organization doing something dishonest????
Perish the thought!
You mean David Brock is grifter?.
Get out of here.
Haven’t we always known this about Brock?
How weird are they?
That’s exactly what the late Elijah Cummings and his wife did with their non profit and profit organizations.
DAVID BROCK
Ugh! There’s a creepy pedo mug if ever there was one.
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