The Humane Society of United States (HSUS) Charity Rating has been revoked. In June, Charity Navigator completely removed its letter grade rating of the Humane Society U.S. and replaced it with a “donor advisory.” “The advisory notifies website visitors of the $15.75 million settlement of a racketeering and bribery lawsuit that HSUS was a part of last month,” HSUS moved money to several funds in the Cayman Islands include the following “investments:” $500,000 to Ascend Partners Fund I, L.P., a Cayman hedge fund $253,000 to BKM Holdings (Cayman) Ltd. $8 million to Fore Multi Strategy Offshore Fund, Ltd., in the Caymans $5 million to Hayman Capital Offshore Partners, L.P. in Bermuda $6.7 million invested in Fir Tree International Value Fund in the Caymans Given that U.S. Charities are supposed to provide charitable services, while for-profit businesses invest money in hedge funds to make a profit, it is quite dubious that a non-profit charity from the United States would put $26 million in offshore funds in the Cayman Islands other than to stash money. flashreport.org/blog/2014/07/09/humane-society-charity-rating-revoked/
Posted on: Thu, 17 Jul 2014 16:59:48 +0000
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