Reviewed the 990s filed by the Wellspring Committee & noticed it donated a total of $3m to the Catholic Association. In '14, the WC donated $650k but the CA only reported $390k in contributions. $260k appears to be unaccounted for....
...The '14 Wellspring Committee 990 was signed by Ann Corkery & prepared by T. Raymond Conlon. The '14 Catholic Association 990 was signed by Ann Corkery's husband, Neil, & prepared by T. Raymond Conlon...
...The Catholic Association was registered in '07 & the 990 signed & prepared by Neil Corkery, treasurer. It then filed 990-N e-postcard returns for '08, '09, '10 & '11...
...In '12, the Catholic Association reported $1.9m in revenue & Leonard Leo was listed as a board member...
...Par for the course, T. Raymond Conlon, CPA, intentionally omitted Schedule A on every Catholic Association 990 which states revenue by year. From '13 to '18, all of CA's income was contributed by the Wellspring Committee...
...Catholic Association revenue by year from '12 to '18 as reported on 990s...
12 $1.9m
13 $63k
14 $390k (Wellspring reported donating $650k)
15 $365k
16 $755k
17 $400k
18 $345k
...Wellspring Committee donations to the Catholic Association as reported on 990s...
12 $440k
13 $60k
14 $650k (CA reported $390k in total revenue)
15 $365k
16 $755k
17 $400k
18 $345k

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More from @mrspanstreppon

30 Jul
Italygate! I shared everything I know about Italygate in a series of threads recently which I will retweet forthwith...
nytimes.com/2021/07/30/us/… Image
...First off, let's start off w the fact Trump Chief of Staff Mark Meadows had half a million reasons to promote voter fraud conspiracy theories...
...This thread has lots of info re the origin of Italygate, promoted by retired CIA agent, Bradley C Johnson whose not-for-profit board includes an assistant FL district attorney in Miami...
Read 5 tweets
30 Jul
Took another look at the Wellspring Committee & Catholic Association 2014 990s:
WC - $650k CA donation
CA - $390k total revenue
Diff - $260k
Not a typo since total grants of $8.289m ties out to the WC's summary & statement of expenses....
.I caution anyone from jumping to a preferred conclusion re the discrepancy. In any event, it's unlikely we'll ever have an explanation since the Corkerys & T. Raymond Conlon aren't going to take my calls....
...Rooting around the Wellspring Committee 990s, I'm coming up w more questions. In '16, WC spent $1.35 million on "public relations". No website, no events - just a handful of donors at most.... ImageImage
Read 7 tweets
28 Jul
Was thinking of Neil Corkery's now defunct Wellspring Committee. Took another look at the 990s & was annoyed the CPA who prepared them, T. Raymond Conlon, intentionally omitted Schedule A which shows revenue by year...
Wellspring Committee revenue by year:
08 $10m
09 $350k
10 $13m
11 $661k
12 $2m
13 $4m
14 $8m
15 $9m
16 $32m
17 $17m
18 $2m
Tot $98m
...John Klink was a Wellspring Committee director from '08 to '11 but omitted his WC stint on his LinkedIn profile... Image
Read 5 tweets
26 Jul
Long suspected two stories Tom Barrack has told about his relationship w Trump are not entirely accurate. The first has to do w Colony Capital's loan to Kushner Cos & the second has to do w Trump DC..
...As Barrack tells it, Colony Capital was part of the consortium involved in restructuring Kushner Cos' 666 Fifth Ave debt in late '11. Based on SEC filings, I think CC gave an assist to the Kushners in March '10. Colony Capital 09 & '11 10-K notes.... ImageImage
...Colony Capital continued to include the debt in its 10-K up until '13. Assume it was eventually written off but I have no way of knowing. Point is it looks like Jared Kushner needed cash in a hurry when he married Ivanka in Oct '09...
Read 6 tweets
25 Jul
Regular broadcasting will now resume w this thread re Tom Barrack's private plane & who exactly owns it...
...Colony Capital "sold" the plane to Barrack's partners in his new venture, Falcon Peak Acquisitions, under the name, Hemispheres Horizons LLC registered in CA & DE... Image
...TI Capital & Barrack's family office, Falcon Peak Partners , were supposed take Falcon Peak Acquisitions public but the S-1 registration statement filed w the SEC was cancelled on Friday, July 23 after Barrack was indicted... Image
Read 4 tweets
25 Jul
Leonard Leo is on the board of two 501(c)3)s related to the Napa Institute founded in '12 to "equip Catholic leaders to defend & advance the Catholic faith in the 'next America'". Napa Institute website...
napa-institute.org
The three related 501(c)(3)s & EINs:
Napa Institute 45-3733093
Napa Institute Foundation 81-1190021
Napa Institute Legal Foundation 83-1067468
Most recent 990s are online at the IRS Charity Search website:
apps.irs.gov/app/eos/
...The Napa Institute's tax exempt status was effective in '12, the Napa Institute Foundation's in Jan '16 & the Napa Institute Legal Foundation's in June '18...
napalegalinstitute.org/about/board-of…
Read 38 tweets

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