“This fact has yet to be shared as required with all of the regulators in all of the states where the Clintons solicit charitable contributions, perhaps because the amendments gave Class A directors unchallenged authority to dominate the Clinton Foundation. The amendments specifically named as Class A directors Bill, Hillary and Chelsea Clinton.
That created major league tax problems for the Clinton Foundation and its private foundation donors such as the Gates, beginning in 2013 when the charity switched auditors from BKD, LLP to PricewaterhouseCoopers.
Why? Because both the Clinton Foundation and its multiple affiliates ceased being validly organized and operated public charities as a result of the Class A/Class B amendment. This is key for both the IRS and FBI investigators, and such donors as the Gates and Buffett.
Clock ticks for Clintons’ private foundation donors. A private foundation may not contribute money to an entity claiming to be a public charity when the recipient is not in fact a validly organized and operated public charity. Such grants are treated by the IRS as “taxable expenditures.” A longstanding pattern and practice of making taxable expenditures can provoke stiff penalties and even lead to winding up of a private foundation donor.
The Clinton Foundation and many large private foundations operate in New York State where charities must register and where they are required to report “material changes” in their legal status and operating structures within 30 days.
Starting in 2001, the Gates Foundation made numerous donations to the Clinton Foundation and its affiliates as can be seen through careful review of Gates Foundation public filings. The Gates and Buffett foundations have experienced and highly intelligent persons who should have spotted the raft of defects evident in filings of the Clinton Foundation charity network.
Why have the Gates and Buffett worked so closely with a set of charities whose public record is so deeply flawed and that now is under investigation by the FBI and IRS?”
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