It’s about time Congress does something about fake non profits like MIS (Credit Data SW)
Widespread Fraud Prompts Congress to Rethink Laws
“… Congress has reacted angrily to revelations of abuses by a wide variety of charities, including scandals at well-established organizations such as United Way and the Nature Conservancy, and the disclosure that some tax-exempt groups have been acting as “accommodation parties” in abusive tax shelters. ... “
Experian had RECORD profits and MIS operates as a non profit. Who is pocketing the $$$?
“Many of the rules on compensation of charity officers, self-dealing between nonprofits and their officials, and the proper roles of boards of trustees are hazy, they said. This not only invites abuse but also makes it difficult for trustees and others to rein in abusers.
Panel members will also look at the idea of making public far more of the records and filings of nonprofits.”
How about ALL filings and especially detailed financial statements?
“For example, they will consider a proposal to require nonprofits to attach to their Form 990, a document that is available to the public, a chart showing the organization’s relationship with its affiliated exempt and nonexempt organizations, and report more clearly on formation of taxable subsidiaries and any transactions with such organizations. ...”
I’d really like to see how MIS got away with being a non profit member organization engaging in these FOR profit activities. Where is the money?
Posted by Christine on 06/20/2004 at 11:23 PM
2003 Suit (appealed, Experian filed credit reports on PACER) • MIS (CreditData SW) - AZ Experian affiliate • (0) Comments • Permalink
