Everything this woman touches goes south in a hurry, so is anyone surprised a sham charity of hers could be in trouble with the IRS? But she doesn’t need to worry. She’s a liberal in tight with the Democrats so nothing will come of it.
She drew the big names — but didn’t dole out the big bucks.
The celebrity-backed charity launched by departing Daily Beast editrix Tina Brown failed to meet the company’s goals in its first year out of the gate — handing out just $10,000 in grant money in 2011 despite raising nearly $1.2 million, IRS records show.
The nonprofit Women in the World Foundation kicked off to much fanfare in 2011 with a star-studded Manhattan party that set the charity back a whopping $168,048 and was hosted by Meryl Streep.
In IRS registration papers, the foundation estimated it would give out $300,000 in grants from June to December 2011, but fell far short of the mark, with a single $10,000 payout to the Fund for the City of New York, records show.
The foundation had hoped to rake in $1.5 million in contributions in the same period, but instead collected $1.17 million, according to the filings.
Total expenses, including the launch party, came to $536,868 for the period.
So she spent over half a million dollars and gave out a measly $10,000.
The foundation has yet to file its 2012 tax return after getting an extension through August.
The 501(c)(3) was set up by Barry Diller’s Newsweek/Daily Beast LLC to harness the success of Brown’s money-making, celebrity-filled Women in the World summit — an annual power-girl powwow that draws the likes of Oprah Winfrey, Hillary Clinton, Angelina Jolie, Madeleine Albright and Condoleezza Rice.
The Ford Foundation, Rockefeller Foundation and Africa Global signed on as founding partners for the fund, which was run by four top Daily Beast execs, including Brown. The aim, Brown said at the time, is “advancing women and girls” by “building on the success of the summits.”
In a just world she’s be forced to pay out of her own pocket, but liberals never do that. We wouldn’t be surprised to find out she was pumping the money in the failed Daily Beast.