Experts call for investigation into Stacey Abrams charity over missing $500,000

Experts call for an investigation of a Stacey Abrams-founded charity due to a large financial discrepancy.

Nse Ufot was the New Georgia Project’s director. She was hand-picked and fired by Abrams in October. Three months later, the group filed its 2021 Form990 financial disclosure. The form had been two months late, according to an investigation by Washington Free Beacon. The group reported a $533 846 consulting payment and a $67,500 grant for an obscure charity called Black Male Initiative. It was run by Ufot’s brother. The group insists that it has never received such a payment.

The company provided the outlet with its Internal Revenue Service filings, which showed $0 in consulting fees and only $255,000 from all sources.

Alan Dye, a nonprofit attorney, stated that “this is something the Internal Revenue Service should look into,” adding that “especially with the possibility of the former officer potentially pocketing the money.”

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He also questioned other financial discrepancies found in the records, including the group reporting it had paid $0 in payroll taxes.

“I don’t know how a charity could have 173 employees but pay no payroll taxes. Dye stated that it was impossible. Dye said, “I cannot answer that question. That should not be an excuse.”

The group reported that it spent $1,914,277 for salaries for its 173 employees in 2020, but it claimed that it had paid $19,142.227 in 2021 — a $17million discrepancy. In 2021, the group reported that it paid $5,671,892 to its 105 employees.

Scott Walter, president of Capital Research Center, said that such a discrepancy was unusual and should be questioned. He also spoke on behalf of the Washington Free Beacon. A proper accounting firm would have at least two or three people review the return before it was sent to the group. No such error should have been overlooked.”

Caitlin Suerland, executive director of Americans for Public Trust’s charity watchdog, stated that New Georgia Project’s tax returns have left so many questions it’s hard to figure out where to start trying to understand them. A fraudulent IRS return can result in severe penalties. Any evidence of financial misfeasance must be treated seriously.

Abrams has tried to turn Georgia blue through mobilizing minorities voters, and the New Georgia Project played a key role.

Its website states that the “New Georgia Project” is a nonpartisan effort, to register, civically interact and build power with New Georgia Majority — the large population of Black, Brown, and young voters in the Peach state.

The group, along with its New Georgia Project Action Fund affiliate, has raised $54.7 Million since 2020.