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February 15, 2012

Media Matters Could Lose Its Tax Exempt Status Due To Coordination With White House?

Big dangling question mark there, because in a socialist state, the Friends of the State have Privileges.

But.

Critics also point to Media Matters’ still mysterious calls and meetings with White House officials, which could prove problematic if the organization is privately sharing information with President Barack Obama’s staff.

“If a section 501(c)(3) organization is privately providing to the Democratic Party information for their use in their political activities, that’s a contribution to the party. Maybe not for FEC [Federal Election Commission] purposes, but certainly for IRS purposes, and would violate their 501(c)(3) status,” one tax law expert told The Daily Caller.

“If, on the other hand, they are compiling information and publishing it for anyone to use, including the Democratic Party, that’s a different thing.”

“But if they are privately providing something of value to the Democratic Party, that’s a revocation issue.”

Also, an exempt "educational" organization is supposed to be non-partisan, and addled wack-a-doo Brock is increasingly upfront about MMFA's combatant status in the partisan wars...

Because Brock has referred to Fox News as a political organization and the “de facto” leader of the GOP, Gray and other critics have argued that Media Matters is engaged in the kind of direct political activity forbidden by IRS regulations.

Many right-leaning organizations, like the MRC (Newsbusters), rely on the 501(3)(c) exemption. They follow the rules. But I think they get nervous when they see people go headhunting for MMFA, because they know the left will soon be contriving a case against them.

Not a reason to permit MMFA to break the law, of course.

Meanwhile, business is good at David Brock's million-dollar-a-year-in-rent wack shack.

Media Matters signed a ten-year lease on its office space, ending June 30, 2020. Beginning in 2011, its annual rent was more than $1 million. The organization went on a $362,000 furniture spending spree in 2010: At the end of 2009 it reported owning less than $22,000 in “office furniture and fixtures,” but by the end of 2010 that number was above $384,000.

At the end of 2010, Media Matters and Media Matters Action had a combined $11.5 million in assets, including more than $3.9 million in cash and cash investments and $2 million in “publicly traded securities.”

Media Matters reported at the end of 2010 that $612,500 of its assets were “restricted” by donors to be applied to “gun and public safety issues.” During this time, The Daily Caller has already reported, Brock’s personal assistant was carrying a holstered and concealed Glock handgun when he accompanied Brock to events.


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posted by Ace at 01:27 PM

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