In 2018, Leonard Leo, sole trustee, incorrectly reported a Rule of Law Trust $250k payment to the Library of Congress was for research. Via email yesterday, the LOC Office of General Counsel advised me the donation was towards the "Two Georges" exhibit...
...In 2017, the Library of Congress announced the "Two Georges" exhibit would be held in 2021. It wasn't & there's no indication on the LOC site when it will be. Coincidentally, Queen Elizabeth gave President Trump a tour of it in London in 2019....…
...I suspect Leonard Leo intentionally misreported the $250k as an expense to avoid questions as to why a 501c4, especially one operated by him, made a very large donation for an historic exhibit...
...I'm curious about transmittal letter that accompanied the $250k check to the LOC & any other related correspondence to see who would be credited when the exhibit took place but that's out of my league...
...Someone might say the reporting error was minor, that the $250k payment was reported but it's indicative of the general quality of financial reporting by NFPs associated w Leonard Leo, co-chair of the Federalist Society & does not reflect well on the society.

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More from @mrspanstreppon

14 Oct
If Ed Mullins did embezzle money from any of the union funds, it's a classic case of a lack of internal controls. I reviewed the NYC PBA & SBA Widows & Childrens Funds bc they were relatively small dollars w few transactions, making it easier for me to critique... ImageImage
...As a retired CPA/auditor, I always look at the name of the person/firm who prepared & signed a not-for-profit's 990 tax return. I noticed the SBA switched firms in 2015 so I googled the name of the new CPA & the firm... Image
...Turned out the CPA, Salvatore Armao, was arrested by the FBI in 2018 & charged w falsifying financial records on behalf of Rocco Fazzolari, former president of the Long Island-based United Industrial & Service Employees Union Local 122...…
Read 7 tweets
14 Oct
If anyone comes across the interview I referred, please send me a link...
...Here's a couple of links to NYT stories about head of NYC PBA Patrick J. Lynch but not the one I'm looking for. First....…
...Second, one from 2019....…
Read 5 tweets
14 Oct
A few observations on the Rule of Law Trust 2019 990 signed by Leonard Leo, sole trustee. In addition to the reported investment income of $1.8M, the trust had unrealized gains of $5.3M. In effect, the trust's expenses equaled total investment income for the year... ImageImage
...The Rule of Law Trust disclosed that it paid $2M to the BH Group LLC of which 35% is owned by Leonard Leo. The trust, however, didn't disclose how that $2m was distributed on the Statement of Functional Expenses or on Schedule O... ImageImage
...$2.9M of total consulting fees of $3.9M in 2019 was paid to the Barton Group LLC, registered by a member, Jason Torchinsky, in June '19 & YAS LLC owned by an employee of the BH Group, Maria Marshall.... ImageImage
Read 8 tweets
12 Oct
Rule of Law this, Rule of Law that. There are several reasons to seriously consider Leonard Leo, sole trustee of the Rule of Law Trust, accepted a $79M contribution from Guo Wengui in 2018...
...In 2018, Cleta Mitchell was secretary of Steve Bannon's 501c4, Citizens of the American Republic per the 990 & the VA SoS registration. Mitchell & Leo were members of the Council For National Policy per the CNP directory...
...According to David Barboza in Dec 2018, Bannon first hooked up w Guo Wengui in Oct 2017, two months after Bannon left the WH. In fact, Bannon had agreed to chair Wengui's Rule of Law Fund, financed by $100M from Wengui...…
Read 19 tweets
11 Oct
Trying to figure out why Leonard Leo organized the Rule of Law Trust, registered as a 501c4 in '18, as a trust. If I'm reading the instructions for Form 1023 correctly, IRS rules permit a trust to apply w/o being registered as a business entity in the state it is domiciled in...
...Spoke to a lawyer re different types of trusts but it's out of my league. If one of Leo's reasons for registering ROL as a trust was to keep the 5014c4 w $79M in donations in '18 under wraps, why did he register it in VA in April '20?....
...Whatever Leo's reason for registering the trust as a business in April 2020, you can bet it was on advice of counsel since the Rule of Law Trust spent $3.8M on legal fees in '19 (includes the Barton Group LLC registered in VA in June '19 by Jason Torchinsky, member)...
Read 11 tweets
9 Oct
Having a cup of coffee & laughing about my 2017 diatribe against J. Christian Adams et al in connection w the manufactured New Black Panther '08 Election Day 'scandal'. That it was manufactured isn't a laughing matter...
...Interestingly enough, J. Christian Adams never had anything to say about Mike Roman's wife filing for bankruptcy four times bet '09 & '16 as a single mother while Roman was raking in big $$$ working for a Koch funded NFP...
...I was on a roll in this July 2017 thread re Trump's short lived 'election integrity' commission....
Read 4 tweets

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