Finances of left-wing attack-dog group questioned

Joe Schoffstall of the Washington Free Beacon details disturbing news about the controversial Southern Poverty Law Center.

The Southern Poverty Law Center (SPLC), a left-wing nonprofit known for its “hate group” designations, now has $92 million in offshore investment funds, according to financial statements.

The SPLC, which has come under fire from across the political spectrum for some of its “extremist” labeling of groups, has been thriving since President Donald Trump entered the White House.

The controversial organization reported $477 million in total assets and $132 million in contributions on its most recent tax forms, which cover Nov. 1, 2016 to Oct. 31, 2017. That represents an increase of $140 million in its total assets from the previous year. Millions flowed to the group following the deadly Charlottesville, Va. attacks from employees at companies including JP Morgan Chase and Apple as well as from actors such as George Clooney.

As part of its business dealings, the SPLC holds tens of millions in offshore entities.

While little is publicly available on the SPLC’s actual transactions, the Washington Free Beacon discovered forms last year that shed light on some of its transfers to entities that are mainly located in the Cayman Islands. The SPLC additionally reports investments in entities in Bermuda and the British Virgin Islands. The Weekly Standard later found that the SPLC had $69 million in non-U.S. equity funds.

The SPLC reported $92 million in non-U.S. equity funds as of October 31, 2017, according to its most recent audited financial statement: a $23 million increase from the previous year and an amount that equates to around 20 percent of its total assets.

“Those on both the Left and Right have the same question: what kind of nonprofit that has ‘poverty’ in its name hoards nearly a hundred million dollars in offshore accounts? The SPLC will now have to update its treasure map to keep track of its massive offshore fortune,” said Lt. Gen. (Ret.) Jerry Boykin, the executive vice president of the Family Research Council.