Click here: to donate by Credit Card
Or here: to donate by PayPal
Or by mail to: Free Republic, LLC - PO Box 9771 - Fresno, CA 93794
Thank you very much and God bless you.
Posted on 08/04/2026 5:05:01 PM PDT by Libloather
Several outlets reported that the DNC used its headquarters as collateral for a $15 million loan due to financial difficulties. Gateway Pundit, Townhall, and Fox all covered this story. I considered reporting it as well.
However, I reviewed the original version 54-page document filed with the FEC on November 20, 2025, rather than relying on secondary news coverage. This revealed multiple inaccuracies in the headlines.
**SNIP**
However, there are key inaccuracies in the widely reported version of events. The interest rate is not 8.75%. That figure does not appear in the credit agreement or the FEC’s loan schedule. The actual rate is the higher of the Wall Street Journal Prime Rate minus 1% or a minimum of 6%. The FEC filing states: “Prime minus 1, or 6.”
Currently, the Prime Rate is 6.75%. Subtracting one point results in 5.75%, which is below the minimum. Therefore, the effective rate on this loan is 6.00%, not 8.75%.
On the $15 million drawn, this equates to $900,000 in annual interest, or approximately $75,000 per month. Even though significant, these figures differ from those previously reported.
The property in question is not the DNC’s headquarters. The credit agreement specifies a different address, 30 Ivy Street SE, as the property subject to the bank’s negative pledge, which prohibits the DNC from obtaining additional loans against it.
The DNC’s headquarters, where daily operations occur, is located at 430 South Capitol Street SE. This building, approximately one block away, is also listed for legal notices in the loan agreement.
30 Ivy Street SE houses the National Democratic Club, a private membership social club founded in 1953. DNC Services Corp, the DNC’s corporate entity, owns the building, which public records describe as a 14,660-square-foot office on a quarter-acre lot.
(Excerpt) Read more at nanacrss2.substack.com ...
|
|
Click here: to donate by Credit Card Or here: to donate by PayPal Or by mail to: Free Republic, LLC - PO Box 9771 - Fresno, CA 93794 Thank you very much and God bless you. |
Not a mortgage, repayment secured not by property value but by anticipated revenue (donations).
Other details at odds with what was widely reported but this is the big one.
So what goes on in there and who pays.
Not a mortgage, repayment secured not by property value but by anticipated revenue (donations).
“Donations” … as in taxpayer funded grift…once the commies are back in power.
From the article: The New York Times reported that DNC leadership has asked vendors to delay invoicing until after the midterms, which some observers interpret as an effort to obscure the extent of the financial shortfall before the election.
My comment:
I thought that the expense had to be recorded when obligated, not when paid. So if they do not report expenses as they occur, they should be violating the law.
Home Improvement Loan? Reverse Mortgage? Rented out the basement? Wired their internet up to their closest neighbor's?
DNC leadership has asked vendors to delay invoicing until after the midterms
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~`
Do hookers and drug dealers extend credit?
https://natdemclub.org/membership
The National Democratic Club was founded in 1953 by former members of the Truman Administration as a membership organization dedicated to advancing the party principles in a social atmosphere. Many of your fellow members include White House Officials, members of the United States House of Representatives and Senate, and national leaders in business and industry.
The National Democratic Club is located on Capitol Hill within blocks of Congressional office buildings, the Library of Congress, and the US Supreme Court.
If you aren’t already a member, you can apply...........
Sadly, the DNC is too big to fail.
“Home Improvement Loan? Reverse Mortgage? Rented out the basement? Wired their internet up to their closest neighbor’s?”
Or transparent dangling carrots.
most likely trying to hide them from the loan underwriters ...
It amazes me how democrat donors don’t realize they’re donating money to their own demise. If the democrats get their way there will only be one supreme leader once their through.
“Not a mortgage, repayment secured not by property value but by anticipated revenue (donations).”
Kind of like telling a bank you’re going to get big money when your Mom dies, even though she’s perfectly healthy. For us mortals, we wouldn’t get very far in securing a loan.
“...I thought that the expense had to be recorded when obligated, not when paid....”
If on accrual basis, true. Cash basis: Recorded when paid.
But they may be thinking that if they don’t get the invoice, they haven’t incurred the obligation.
The 1st step in the obligation chain is the purchase order, which most vendors require before initiating a delivery. Those are going to show up somewhere in the Balance Sheet rather than the P&L (usually). Kind of important to know how much stuff you are going to have to pay for prior to ordering up more stuff (unless you’re a Democrat). It’s necessary information for cash-flow tracking/projections.
OTOH, I can see a lot of vendors now going to Collect on Delivery, or Payment Before Delivery. F the DNC.
“Not a mortgage, repayment secured not by property value but by anticipated revenue (donations).”
Per the article the building is pledged as collateral.
If on accrual basis, true. Cash basis: Recorded when paid.
In Maine, for state races, you must do it on an acrual basis.
Federal races operate under federal rules.
Nothing new here. I remember in the 70’s the demoncrats were so broke, Ky Govennor John Y. Brown held a telethon.
They took it out on a club, not on their own building?
Kiting an HQ.
Ok
PROVIDERS OF SERVICES SHOULD BE BILLING TIMELY.
IF NOT-—THEY ALSO ARE TAMPERING WITH THEIR OWN BOOKKEEPING SYSTEMS.
MOST COMPANIES ARE ON THE ACCRUAL METHOD-—WHICH CREATES INCOME AT THE BILLING...NOT WHEN PAID.
THEY ARE UNDER REPORTING THEIR INCOME,ALSO.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.