Jane Fonda Foundation Revealed As A Scam

Jane Fonda

JoshuaPundit: Ah, ‘progressives’..they always have great ideas on how everybody should pay their fair share. Except them, of course.

Multimillionaire Actress Jane Fonda’s charitable foundation is an interesting example of this principle. 

According to the IRS records, with nearly $800K in the bank as of 2011, the last fiscal year covered by their 2012 return, Jane Fonda’s private charitable foundation hasn’t hasn’t donated a dime since 2006. According to the IRS’s own rules, a private charitable foundation has to donate at least five percent of its assets, or face stiff financial penalties.This was designed to stop people from misusing charitable foundations as a tax dodge and a parking place for tax free income:

While Fonda’s foundation has not been making donations, the group has tried to grow its stash via the stock market. For example, the foundation’s last tax return lists 166 separate trades–involving thousands of stock shares–that netted about $2200.
The Fonda foundation’s returns show that most of its assets were provided years ago by the performer herself, though more than $320,000 came from a Connecticut firm that has booked speaking engagements for the two-time Academy Award winner.
In other words, Fonda shielded taxable income and the firm that booked her speaking engagements got a nice tax deduction.
The Jane Fonda Foundation lists Fonda on its tax filing as the foundation’s president and chairman of the board, and reports that she devotes 10 hours a week to the charitable foundation. This is important, because IRS rules allow someone like a celebrity to take a charitable deduction for time spent working for a charity based on their ‘usual fee’. In Fonda’s case, that’s 520 hours or 22 days if we consider 24 hours a full work day. If we base it on a more normal 8 hour work day, Jane Fonda is able to take a deduction for ‘charitable work’ at her normal rate for something like 65 days, over two months.
Even more interesting, this has been going on since 2007, and the IRS, busy targeting conservative donors and sabotaging attempts by conservative groups to obtain 501c status has prosecuted her at all.
The rules, you see, are for the little people who vote wrong and donate wrong.
Some people never change…

About Ask Marion

I am a babyboomer and empty nester who savors every moment of my past and believes that it is the responsibility of each of us in my generation and Americans in general to make sure that America is as good or even a better place for future generations as it was for us. So far... we haven't done very well!! Favorite Quotes: "The first 50 years are to build and acquire; the second 50 are to leave your legacy"; "Do something that scares you every day!"; "The journey in between what you once were and who you are becoming is where the dance of life really takes place". At age 62 I find myself fighting inoperable uterine Cancer and thanks to the man upstairs and the prayers from so many people including many of my readers from AskMarion and JustOneMorePet... I'm beating it. After losing our business because of the economy and factors related to the re-election of President Obama in 2012 followed by 16-mos of job hunting, my architect-trained husband is working as a trucker and has only been home approximately 5-days a month since I was diagnosed, which has made everything more difficult and often lonely... plus funds are tight. Our family medical deductible is 12K per year for two of us; thank you ObamaCare. But thanks to donations from so many of you, we are making ends meet as I go through treatment while taking care of my father-in-law who is suffering from late stage Alzheimer's and my mother-in-law who suffers from RA and onset dementia as well as hearing loss, for which there are no caretaker funds, as I continue the fight here online to inform and help restore our amazing country. And finally I need to thank a core group of family, friends, and readers... all at a distance, who check in with me regularly. Plus, I must thank my furkids who have not left my side through this fight. You can see them at JustOneMorePet.
This entry was posted in Economy and Money, Knowledge Is Power, News and politics, Politics, Watch the Other Hand, You Be the Judge and tagged , , , , , . Bookmark the permalink.

1 Response to Jane Fonda Foundation Revealed As A Scam

  1. Pingback: The Wrap at Ask Marion 12.08.13 Thru 12.15.13 | askmarion

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