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Beware the Attack Basset
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25,450 Posts
If there are 3 million donors, that's $15 million a month and that would seem to significantly exceed "non-profit" conditions.
 

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Beware the Attack Basset
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25,450 Posts
I dont think the amount in the account matters to being a non-profit. Its how the money gets spent.
What is important is that the money gets spent on something other than lawyers. Building a war chest is often frowned upon.
 

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Beware the Attack Basset
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If you don't think other non-profits maintain legal funds and lawyers on retainer, as well as paying lobbyists to push for or against pertinent legislation, think again. As long as they're not distributing profits to private individuals/shareholders, it's pretty much permitted under the existing IRS 501(c)(3) rules.
Paying lawyers and lobbyists is fine. It is collecting large amounts of fundage that isn't destined to be spent on something specific that is frowned upon. This is the textbook definition of a "war chest" for businesses.
 

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Beware the Attack Basset
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25,450 Posts
Planned expansion into under served areas isn't specific enough?
LOCAST had been adding a market every few months. If that's the case, does their operations plus opening up a new market really cost $15 million X the number of months between markets lighting up?

I don't think so.
 

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Beware the Attack Basset
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25,450 Posts
If the Red Cross takes in more money than they need for actual expenses this year should they be shut down?
The only disasters that LOCAST faces are equipment failures and those may cost hundreds to fix once in a while, not millions per month.
 

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Beware the Attack Basset
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25,450 Posts
Are they not allowed to maintain a fund for unexpected loss expenses? And a legal fund? Many non-profits do.
That's most often handled with insurance and it doesn't cost millions a month.

I recommend you address where these millions are going.
 

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Beware the Attack Basset
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25,450 Posts
I can't see cable TV going away until they fully implement multicast (that includes some way of pausing live). Unicast is a terribly poor alternative to modulated channels when it comes to bandwidth utilization.
 

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Beware the Attack Basset
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25,450 Posts
So the upshot of the billing reveal is that the money was directed to Locast proper. That should help settle one of the major issues raised by those who are trying to formulate Locast's legal defense strategy for them.

I think everyone acknowledged that the "donation" terminology came with a "wink wink, nod nod, know what I mean?".
 
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