According to the New York Post an accounting firm hired by Al Sharpton’s National Action Network, they found the civil-rights group in such financial disarray that it flunked its record-keeping — and may not even survive.
According to an audit, The National Action Network still owed $1.348 million in delinquent city, state and federal taxes and penalties at the end of 2008. The IRS has filed dozens of liens against NAN over the past decade, including one as recently as April of this year.
According to Rachael Noerdlinger., spokewomen for The National Action Network. “We determined not to file bankruptcy but to make NAN solvent, which we clearly have done and will be reflected in [upcoming reports],” she said “NAN’s board of directors put up “over seven figures” to begin paying down tax arrears”
Meanwhile, the audit found that NAN was a defendant in five lawsuits:
* Alpha International Travel accused the group of failing to pay $50,000 in outstanding bills. NAN settled the case.
* The Peabody hotel in Memphis, where NAN held its 2008 convention, accused NAN of stiffing it out of $70,000. NAN is contesting the charges.
* NAN’s Arizona chapter is accused of being a deadbeat tenant. The organization is fighting the claim.
Far from closing shop, Sharpton has opened new NAN chapters across the country in the past two years.
But such an expansion is a costly mistake, said one insider familiar with the group’s finances.
What do you think, will Al Sharpton’s good thing come to an end.??
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