Posted on 12/08/2009 8:53:05 PM PST by Steelfish
Civil Liberties Group Loses $20 Million Donor
STEPHANIE STROM December 8, 2009
A longtime anonymous donor to the American Civil Liberties Union has withdrawn his annual gift of more than $20 million, punching a 25 percent hole in its annual operating budget and forcing cutbacks in operations. Anthony D. Romero, executive director of the A.C.L.U., acknowledged in a written statement that a “family” had told the organization in September that it could not make its annual gifts, at least for next year.
“This family, that has sought to protect its privacy by arranging its gifts anonymously, notified us last month that due to market conditions it will be unable to make its expected sizable donations of over $20 million,” Mr. Romero said.
A.C.L.U. board members, who insisted on anonymity because the loss of the gift was reported in an executive session of their meeting, identified the donor as David Gelbaum, who made a fortune as a hedge fund manager and is now better known as a major investor in clean technology.
Mr. Romero said that donors like the Leon Levy Foundation, the Open Society Institute, Peter B. Lewis and John Sperling had stepped up with pledges totaling $23 million spread over the next three years. But unlike the annual Gelbaum gifts, the new money will have to be shared with state affiliates.
“Even with this incredible outpouring of support, we may still not have sufficient resources to replace our revenue gap,” Mr. Romero said. “Therefore we will need to consider a number of budget reductions as well as the possibility of drawing down from our reserve funds if necessary.”
(Excerpt) Read more at nytimes.com ...
Communist front group loses money as communists in Washington destroy US economy.
Ironic. Isn’t it?
No more acorns from Mr OakTree.
Also apparently this hedge fund manipulator is having a bad year.
Damn I was hoping the Chinese had offed him.
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Anyone contributing to the American Communist Lawyers Union is a treasonous bachelor’s child!
ACLU=FILTH!
I’m holding back.
Obamanomics may trun out to be a self-correcting problem.
As the ACLU receives government funds, are we able to get their financials?
I agree with you ringersix however....
Please fellow freepers, do not use the term “filth” or “wicked” both are archaic and just make those that use it sound 19th century. Use an expletive but stay away from words that make us all look like prudish dorks.
end public service announcement.
They are destroying their own.
Gelbaum is the main ahole who turned the Sierra Club into an open-borders outfit.
He should be taken out and hung for the irreparable damage he’s done to the nation.
Yeah. Draw down your reserve funds.
Some of us think using expletives make us sound like vulgar idiots.
I think “filth” and “wicked” deserve a comeback. Call ‘em like I see ‘em.
Besides, being ‘k3wl’ is so lame anymore.
Did’nt the ACLU lose a large chunk of their investments with Bernie Madoff?
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