Tuesday, July 24, 2018

AFA is still in the financial crapper

Tim Wildmon
Hate Group Leader Tim Wildmon, American Family Association
American Family Association, an anti-LGBT hate group, had revenues of $19 million for the year ended June 30, 2017. This is a very small improvement over the prior year and far short of two years prior.

Revenues for year ended June 30:
  • 2017: $19 million
  • 2016: $18 million
  • 2015: $30 million
  • 2014: $28 million
There are a number of errors, inconsistencies, incomplete schedules and questionable items but I am not their auditor. In 2016 the tax return was completed by AFA's auditor, a small Alabama CPA firm. The 2017 return was completed internally. Their CFO, Keith Gann, mistakenly signed as a paid preparer (applicable to outside firms). Another wizard.

The change in who prepares the 990 might be telling. In one part of the 990 they claim to have audited financial statements. On another schedule they claim not to have audited financial statements.

My guess is that they were audited by their CPAs but wanted to avoid a Schedule D reconciliation. In other words, the audited financial statements differ from the tax return, something that AFA tried to obscure. No one at the Service is going to pick this up and ask the questions. A referral is a waste of time.

Retired chairman, Don Wildmon, received $125 thousand for doing absolutely nothing.

Meanwhile, AFA Action, a 501(c)4, has a problem. That organization is on a calendar year. The last tax return that the organization filed was for the year ended December 31, 2015. They are on a path to having their tax-exempt status revoked around June, 2020.

While American Family Association's revenues are considerably lower than in their heyday they remain very dangerous. The hate group has over $16 million in liquid assets. Those funds could be used for nefarious purposes.

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