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CSR

Rev. Al’s National Action Network Facing Financial Difficulties

August 17, 2013
By

sharpton-nan

Rev. Al Sharpton’s nonprofit organization, National Action Network (NAN), is in hot water with the government for dodging payroll taxes and “related interest and penalties”, reports MSN Money.

The NAN, which has been vocal in the wake of the Zimmerman trial, owes nearly $880,000 in income tax to New York State and $2.6 million to the IRS. Strangely enough, The New York Post reports, the nonprofit group still pays Sharpton nearly $242,000 with perks including first-class travel. Rev. Sharpton has also been an MSNBC anchor since 2011.

“He could really get into a lot of trouble,” Daniel Borocoff of Charity Watch told MSN Money, “It’s a red flag that the group may go under.”

In 2011, Tamika Mallory, the executive director of NAN, claimed that the board of directors voted to resolve its financial woes; clearly, this has not happened yet. The year before that, NAN raked in $3 million in donations that was supposed to pay off all back state taxes. Again, this apparently did not happen.

NAN not only owes the state and IRS, but it is also owes Sharpton $111,223. He provided the company loans “due to deficits,” according to The Smoking Gun.

However in 2012, NAN showed confidence that its financial quicksand will be solidified soon. “[T]he Organization has been in the process of negotiating an offer in compromise to settle all payroll taxes,” Black Enterprise notes. “The Organization feels that that the likelihood of a favorable outcome in highly likely.”

It is unclear, MSN Money says, if NAN still feels the same way today.

This is not the first time Rev. Sharpton has fallen into economic trouble. In 1993, he pleaded guilty to a misdemeanor tax crime to avoid felony charges, The Post says. “In the years since, the IRS has issued a dozen liens against Sharpton’s groups, including one against him for $538,653 in 2010.”

Despite its money problems, NAN is organizing a march scheduled for Aug. 24 to commemorate the 50th anniversary of Martin Luther King Jr.’s famous March on Washington. The event will focus on a range of issues such as voting rights, the “stand your ground” laws, racial profiling and unemployment.

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