Wednesday, November 3, 2010

Kaine Horman foundation scam,,id=127912,00.html

According to the IRS web site, by creating a foundation in his missing son's name, Kaine Horman can collect the money "for searches" and none of the money has to be used for searches.  In fact, only a very small percentage of money collected has to be spent on what the foundation was created for.  This means if the foundation bought buttons and tee-shirts to sell, they can use the rest of the money to pay the board of directors.

Of course, they have to file public disclosure forms and documents are required to be available to the public.

A private foundation must also make its exemption application, supporting documents, and letters sent from the IRS available for public inspection, and provide copies of these documents in the same manner as other exempt organizations.
Although these are just the IRS rules.  The FTC requires those advertising a fund raiser for a particular purpose responsible to use the money for that purpose.

I still want to know with all the money donated to the "reward fund" and the Kyron Horman Foundation for "searches" why has NONE of the "Kyron Horman search fund" money been used for searches and WHY has NONE of the "Kyron Horman reward fund" been used to increase the reward after Desiree's pleas to increase the reward and the public's generous response to increase it ?

To those who have donated to the "Kyron Horman Reward Fund" or to the "Kyron Horman Search Fund",

You've been SCAMMED

Where's the money, Kaine ???


No comments:

Post a Comment

Comments are moderated. Be nice or I'll turn them off again

Subscribe Now!
addtomyyahoo4 Subscribe in NewsGator Online Subscribe with Bloglines
Add to netvibes Add to Google .
original feed View Feed XML