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Periodic reminder: When Marco Rubio first ran for the Senate in '11, his patron, Norm Braman, Miami car king, registered a "new" foundation to funnel $50k+ to Rubio annually via his wife's "consulting firm" The arrangement cont'd thru '17 & possibly '18....
Rubio's arrangement w/Braman, a billionaire, perfectly illustrates the weakness in federal financial reporting regulations. Year after year, Senator Rubio reported his wife's corporation as a partnership that made a distribution >$1k.....
...It also illustrates the weakness in campaign reporting. That Rubio's wife had been on a major donor's p/r since '11 w/what sure looked like a no-show job should have been a big deal in '16 but I don't recall hearing about it.....
...The Braman '11 foundation reported "professional fees" of $40k in '11 (partial year) & $49.5k in '12 . The threshold for disclosing the names of independent contractors for private fdns is $50k so it wasn't req'd to disclose fees paid to Mrs Rubio in those years...
In '13, the Braman '11 foundation did direct prospective donors to contact Mrs Rubio w/o naming JDR Events but threw in "net investment income" of $16k against professional fees to reduce payments to JDR Events to less than the $50k disclosure threshold....
Funny thing is the Braman '11 Fdn contributed a whopping $250 to charities in '13 presumably on Mrs Rubio's $50k worth of advice. It was also the only year the foundation incurred travel expenses which coincidentally was the same year Senator & Mrs Rubio visited Israel....
..Same disclosure in '14 as '13 w/a twist to disguise the payments to JDR Events...
..In '15 & '16, the Braman '11 Foundation accurately reported the payments to JDR Events prob because Little Marco was running for president.. The payments were once again netted against net investment income. Curious as to why...
..In '17, the Braman '11 Fdn again accurately reported the payments to JDR Events but there are other q.s. about the foundation's reporting....
..Two corrections: Rubio ran for the Senate in '10 & assumed office in Jan '11, the same month his wife registered JDR Events & the NYT did describe her arrangement w/the Braman Fdn to some extent in Dec '15...
nytimes.com/2015/12/15/us/…
...Correction: 2013 wasn't the only year the Braman '11 Foundation reported travel expenses. It reported travel expenses of $40k in '17. Whether the travel expense was connected to Mrs Rubios's work, I don't know....
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