To: Mudboy Slim
30 posted on
02/25/2004 10:22:45 AM PST by
FBD
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To: All
From : "Undue Influence" : (The Heinz Cluster)
The Teresa and H. John Heinz III Foundation
The H. John Heinz III Foundation
The Heinz Family Foundation
In fact, the first two "foundations" on this list are not foundations at all. They are non-exempt "funds" fed by private trusts belonging to Teresa Heinz. They aroused suspicion because they are not listed in IRS Publication 78 (the government's index of all tax-exempt organizations).
"The Teresa and H. John Heinz III Foundation" and "The Heinz Family Foundation" are not 501(c)(3) exempt organizations, they are actually "funds" within the Heinz Family Foundation and are totally controlled by Teresa Heinz:
The two funds receive their money from separate "charitable lead trusts." A charitable lead trust is a private non-exempt trust that provides payments to others (individuals or organizations) for a term of years, then the trust principal goes to the recipient free of, or at greatly reduced, federal gift and estate tax.
In 2001, The Heinz Family Foundation received $6.4 million from The Teresa & H. John Heinz III Charitable Trust (a charitable lead trust) for The Teresa & H. John Heinz III Fund (called a "foundation" on the website).
In 2001, The Heinz Family Foundation received $259,525 from The H. John Heinz III Charitable Trust (a charitable lead trust) for The H. John Heinz III Fund (called a "foundation" on the website).
Both of these charitable lead trusts are controlled by Teresa Heinz.
It is deceptive to call such a confusing setup a "foundation."
The point: Teresa Heinz has direct power over more than is visible."
31 posted on
02/25/2004 10:26:35 AM PST by
FBD
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