Rev. Al Sharpton deep in the red - his nonprofit paid him nearly $242,000 — even as it carried $1.6 million in 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.
Read more: http://www.nypost.com/p/news/local/manhattan/rev_al_deep_in_the_red_FFFX2IRlXVlP0sh79dWyxL
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.
Read more: http://www.nypost.com/p/news/local/manhattan/rev_al_deep_in_the_red_FFFX2IRlXVlP0sh79dWyxL
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