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Sunday, December 11, 2011

Rev. Al Sharpton deep in the red

REV. AL SHARPTON High salary, higher debt.

The Rev. Al Sharpton’s nonprofit paid him nearly $242,000 — even as it carried $1.6 million in debt, according to documents obtained by The Post.

In all, the controversial activist and his empire, including the National Action Network and two for-profit companies, were $5.3 million in the red, public records show.

Most of NAN’s money woes stemmed from more than $880,000 in unpaid federal payroll taxes, interest and penalties. It also paid more than $100,000 to settle two lawsuits, byproducts of the unpaid bills.

And it still owed $206,252 in loans to Sharpton’s for-profit Bo-Spanky Consulting Inc. and Sharpton Media LLC, the records show.

Sharpton drew a $241,732 salary and perks that included first-class or charter air travel, tax filings show. He owes the IRS $2.6 million in income tax, and nearly $900,000 in state tax.

The defunct Rev-Al Communications Inc. owes the state almost $176,000, and Bo-Spanky is $3,500 behind on state-tax liens.

Sharpton has said he is on a repayment plan with state and federal-tax authorities.

NAN last year took in more than $3 million in donations, which allowed it to chip away at its tax burden. This year, its board of directors voted to resolve the tax issues and paid all back state taxes, said Executive Director Tamika Mallory.

The civil-rights group is also addressing the $883,503 it owes in federal payroll taxes, she added.

And it is close to finished repaying the Peabody Hotel in Memphis $106,981 owed since 2008, when NAN skipped out on its bill after its annual convention, according to its 2010 audited financial statements.

Plus, it paid $5,500 to a Phoenix developer to settle a legal dispute over the rental of chapter offices.

1 comment:

  1. The guy is creepy and his dealings are creepy.....and if the people who make donations continue to do so....they are stupid. I wouldn't pay a donation so that HE can pay off his debt due to "Livin' High On the HOG". He is such a phony....trying to keep up with the big players and he just can't. Sleezy might be a better word. Him and Jesse Jackson....(Jackson's son is following in the footsteps too). Sleezy!

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