Donations to them are tax deductible. That's why wealthy donate to them or have their kids like Dean start one. They're also exempt from income, sales and property tax (looking at the 990s, some of these have very large investments in stocks and real estate).
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So the tax sheltered investment gains allow them to pay themselves and their friends very well I suppose.
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Then they lobby the government for contracts. And lobby for laws that make homelessness worse. Here's an example from NYC:https://www.nytimes.com/2021/10/04/nyregion/the-homeless-shelter-executive-who-earns-1-million-a-year.html …
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Yeah I saw that. Insane.
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I think California is much worse. Some of the 990s I've seen make them look more like hedge funds
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So the investment gains are tax advantaged but what are the permitted uses of those gains? Salaries? Bonuses? Donations?
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It's supposed to be related to their charity activities. But that can become a gray area very easily. And yes that can pay huge salaries
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I think SF Pretrial falls into this category. Lobbied for contract with questionable and opaque “results”
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Yep, last year they got $7 million in contributions and paid $5 million in salaries. And nobody seems to know if they're even effective.https://projects.propublica.org/nonprofits/organizations/942333038/202111349349302466/IRS990 …
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Maybe .
@sfpretrial .@chesaboudin .@chatfieldkate or .@RealJusticePAC can inform us!2 replies 0 retweets 1 like
Matt Haney tweeted this one: Akonadi foundation, whose president makes $250k and they have an investment manager getting paid $250k. They have $30 million in assets invested in stocks and bonds. No idea how this is a nonprofit.https://projects.propublica.org/nonprofits/organizations/943329873 …
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