Concerned Women for America's Failing Financials

[Ian David]

Concerned Women for America's Failing Financials
by: davidhart
Fri Apr 10, 2009 at 22:39:19 PM EDT

Cross-posted at: http://www.tips-q.com/815368-concerned-women-americas-failing-financials

CWA has filed their tax return for the year ended June 30, 2008. One of their obvious financial problems is that they are addicted to outside telemarketers. In fact, they spent more half of their gross revenues on outside fund raisers. To raise $10.4 million, they spent more than $5.5 million on outside fund raisers.People should know that less than 47 cents of every dollar they donate goes to CWA. They paid out almost a half-million dollars for list rentals which may – or may not – be included in the outside marketers expenses.

A few notes of interest:

* Their deficit for the year was $767,716
* This left them with a negative net asset value of $49,875.
* Their payables ballooned 44% from $832 thousand to $1.2 million. Their vendors are are probably not being paid on time — if at all.
* Included in the donation total is $129,000 that they booked as a receivable. In other words funds pledged but nor received.
* J. Matt (Bam Bam) Barber was being paid $91,000.
* They paid Jancie Shaw Crouse as a consultant a sum of $115,433.There are some potential tax issues.
* Two of the outside contractors have conflicts of interest. For expample, Advanced Marketing Concepts is owned by Beverly LaHaye's son and received $265,177.

It is also unlikely that CWA felt the full brunt of the recession in the year ended June 30, 2008. I would speculate that they are now deep in the financial crapper. With a negative net asset value, it will be nearly impossible to borrow money. They currently owe Beverly LaHaye $150,000, She better get ready to pony up if she wants to keep this endeavor of hate alive.

More:
http://www.pamshouseblend.com/diary/10373/concerned-women-for-americas-failing-financials

[doctor jazz]

1. Maybe they should change their name

to Very Concerned Women

:D

[TheWraith]

2. Couldn't happen to a better set of worthless scum. nt

[SharonAnn]

4. I hope they disappear and their name is erased from collective memory.

[TheWraith]

7. I would rather that their name be enshrined...

...as a warning to the next ten generations that selling your soul comes with a mighty high mortgage payment.

[Canuckistanian]

3. Aren't they the pro-rapist and pro-forced pregnancy group?

If so, then I'm glad to hear of their imminent demise.

Sounds like they were never that popular to begin with, if they were blowing all their money on fundraising efforts.

[tanyev]

5. K & R

[gratuitous]

6. Wingnut welfare

Set up a "charitable" "educational" organization, dupe a bunch of rubes into sending money*, and distribute the proceeds to oneself and various family members for "consulting" "work" and Wah-la! A cottage industry is born.

It would be just too damn bad if outfits like Concerned Women of America had to toddle off into the trash heap along with so many other hate groups posing as charitable organizations. The liberal advocacy groups I volunteer for and contribute to are very accustomed to getting by on a shoestring. When you're chronically short of funds, you're pretty much recession proof.

*The damage to the country, naturally, is that these "charitable" contributions are tax deductible, while the value to society is indiscernible.