OWS You Have Been Sold Out!

The media has reported that OWS has over $500,000 in the bank from donations that it has recieved.
There have been reports that there has been some conflicts over what to do with that money.

Well those conflicts have been solved. OWS has nothing in the bank, The Alliance for Global Justice has $500,000 in the bank.

FoxNews Occupy Wall Street' Protesters Debate How to Deal With $500,000 in Donations
A few weeks ago, the Alliance for Global Justice, a Washington-based nonprofit, agreed to sponsor Occupy Wall Street and lend it its tax-exempt status, so donors could write off contributions. That means the Alliance for Global Justice's board has final say on spending, though it says it's not involved in decisions and will only step in if the protesters want to spend money on something that might violate their tax-exempt status.

FoxNews Occupy Wall Street' Protesters Debate How to Deal With $500,000 in Donations

At the moment, Occupy Wall Street protesters say they don't have leaders. The only way big decisions can be made and money can be spent is if the General Assembly—a daily meeting at which everyone who shows up has equal standing—reaches a consensus.

Where the group's money goes isn't entirely up to the General Assembly, either. As far as the Internal Revenue Service is concerned, Occupy Wall Street does not exist.

'Occupy Wall Street' Protesters Debate How to Deal With $500,000 in Donations

Now before some of you start whining about my using Fox News as a source here's another one. I went to the source.

Alliance for Global Justice Occupy Wall Street, Fiscal Sponsorships & the Alliance for Global Justice.

So what does the Alliance for Global Justice do for Occupy Wall Street (OWS)? Essentially we collect and process their donations and pass the money on to them as a project of the AfGJ. In IRS parlance we take “responsibility for all financial and programmatic matters” of OWS. We are responsible to include their financial reporting as part of our own when we file our annual tax return, which for non-profits is called a form 990. We are accountable legally and financially to prove that all expenditures by OWS are within the IRS’s tax-exempt rules. If the IRS audits us, we will have to show supporting evidence of the numbers we report. Occupy Wall Street’s obligation to us is to provide the accounting and receipts we’ll need for the IRS and to not jeopardize our tax-exempt status through any actions of theirs.

With all of our fiscally sponsored projects we are responsible for them both financially and programmatically. However, our fiscal projects act autonomously with their own decision-making structures. We do not interfere or participate in those structures except in the, so far, unknown event that one of our projects would do something to jeopardize our tax-exempt status. Under our fiscal sponsorship contract, we have the right to tell them to cease and desist if that should happen and to cancel the contract if they refuse.

What do OWS and our other fiscally sponsored projects get out of the relationship? They get additional accounting and administrative staff support and advice. They get to offer their donors tax-deductions for their donations. They get online donation capacity and staff to process and deposit donation checks as well as to send the IRS-required form for donations of $250 or more. They don’t have to worry about IRS forms and deadlines. They are covered by our liability insurance. If they have paid staff, which OWS does not, we handle their payroll and enroll them in our group health policy. For an organization like United Students Against Sweatshops, which rotates an entirely new staff in every couple of years, we provide continuity and organizational memory.

Many supporters ask if AFGJ takes a portion of the donations. We charge a relatively low rate for fiscal sponsorship, at a flat 7% of all money that passes through our channels for processing.

I looked into the Alliance for Global Justice and found their rating on Charity Navigator.
Their Overall score is 14.51 and their rating is 0 stars.
Their Financial Rating is 38.81 and their rating is 1 stars.
I have posted a link so that you can see for yourself.

Charity Navigator rating for Alliance for Global Justice

For a supposed grassroots organization that has no "leaders" I have to wonder who set this up? I also have to wonder if everybody at OWS is aware of this?

The Alliance for Global Justice goes to great lengths to say that they won't interfere unless OWS does something to endanger it's tax exempt status. Ok I'll take them at their word for now. If this is the case, it puts extreme limits on what OWS can do with "their money". As far as the IRS is concerned it is the Alliance for Global Justice's money. I wonder what happens if OWS tries to do something to endanger Alliance for Global Justice's tax exempt status? It is entirely possible that Alliance for Global Justice can just walk away with OWS's money, I mean Alliance for Global Justice's money.

reply to post by JIMC5499

The one thing that stuck out in all that was:

Many supporters ask if AFGJ takes a portion of the donations. We charge a relatively low rate for fiscal sponsorship, at a flat 7% of all money that passes through our channels for processing.

Now, I'm assuming that most of these donations are electronic and require little or no manpower to process. 35.000 dollars or 7% does not sound like peanuts to me. Maybe I'm seeing it wrong but surely even banks or credit unions have cheaper rates than that?

Is this message still on the official website?

Occupy Wall Street is leaderless resistance movement with people of many colors, genders and political persuasions. The one thing we all have in common is that We Are The 99% that will no longer tolerate the greed and corruption of the 1%. We are using the revolutionary Arab Spring tactic to achieve our ends and encourage the use of nonviolence to maximize the safety of all participants

Yes? OK Good.

OWS still is, and always will be, a leaders resistance movement.

A leaderless resistance movement, by definition, can not be sold out. Anyone or organization saying it is the leader, is trying to hijack the movement.

The way each one of us decides to represent OWS, makes it what it is.

So OP, I don't see why you wan't to make it into a bad thing. If you have an issue you feel strongly about, go down to your local Occupy and start making the movement about that.

"I also have to wonder if everybody at OWS is aware of this?" Probably not, thats because these people do not represent to movement. If the people don't know about this, than obviously this organization does not represent the movement. If you want to believe Fox news represents the movement, well fine, I guess, but that is just absurd.

OP you forgot to mention that the ALLIANCE FOR GLOBAL JUSTICE is the link to GEORGE SOROS which many of OWS's followers have vehemently denied having anything to do with.
Thanks for the news though, sounds like OWS is getting what they deserve.
I tried to present them with many facts, but they just denied and called me names.

reply to post by JIMC5499


Very interesting. As they say follow the money trail. I wonder what could be considered as violations for taking away their non-profit status ?

Originally posted by thehoneycomb
OP you forgot to mention that the ALLIANCE FOR GLOBAL JUSTICE is the link to GEORGE SOROS which many of OWS's followers have vehemently denied having anything to do with.

Yeah, because George Soros can not BUY a people's movement. He only represents us if people say he does, and I for one say he doesn't!

reply to post by CREAM


Yeah I know, thats what they all kept telling me....and they denied having anything to do with Soros and denied accepting any of his money.



Ironic isn't it?
Soros is laughing all the way to the bank.
Although maybe not, as it turns out OWS was a BAD INVESTMENT.

But hey, I knew that and I tried telling everyone, but no one wanted to listen.

Here's one of the original articles about the Alliance for Global Justice and ties to Soros, funding the Occupy Wall Street movement.

www.humanevents.com...

Radical anti-American billionaire George Soros is a major backer of a left-wing group that is funneling money to the Occupy Wall Street movement.

The nonprofit organization at the receiving end of Soros’ largesse, Alliance for Global Justice, is managing donations benefiting the communists, socialists, anarchists and hippies now occupying Zuccotti Park in lower Manhattan. As of Oct. 19, OWS had taken in a grand total of $435,000 from all sources, including donations made by individuals online and in person, according to reports.

It should surprise no one that Soros (net worth: $22 billion), the ultimate Wall Street insider and preeminent funder of the activist Left today, embraces Occupy Wall Street.