It's truly a sad reflection on the state of our government that when I read the DoJ's press release about these charges, all I could think is that the charges are probably not legitimate and are instead politically motivated. This administration has no credibility left whatsoever.
Then to see Fidelity take a political stand - well, given my terrible experiences with that company, I can't say I'm surprised.
DAFs (U.S. tax law) were never meant to benefit charities, they are a way to give donors a tax break today by putting money in the hands of for-profit entities like Fidelity in exchange for a vague promise to maybe someday donate to an actual charity.
I wonder if Fidelity is putting a similar restriction on those age 70 and above who wish to make a Qualified Charitable Distribution (QCD) from their Traditional IRA to Southern Poverty Law Center. This would be even worse, since it is not Fidelity's job to audit the charitable deductions made via QCDs.
I've seen situations where Fidelity won't let you OR your spouse access your retirement funds if your spouse ends up in legal trouble. I really wouldn't keep money you need to be able to access with them. My friend ended up in prison non-finance related and his wife didn't have access to their retirement account (luckily she had other income sources).
They were paying confidential informants for tips they would use in investigations and pass to law enforcement. Not QUITE the same as being a hate group.
>I guess Fidelity doesn't want to help fund hate groups
Your "guess" is not the stated reason. FTA:
>“Consistent with our grant-making standards and practices, the organization is not an eligible grant recipient during the ongoing investigation.”
In fact, WRT Fidelity's actual disposition on funding hate groups, the SPLC reported in 2023 that their donor advised fund had been consistently used to that effect, including anti-LGBTQ, anti-government, anti-Muslim, and hard right groups.[0]
The SPLC has been out of control for a long time. They’ve been sued by Black employees and women, for being racist and sexist in employment practices. Gay employees have publicly complained also.
The SPLC started calling religious organizations hate groups, which led to a disassociation by the FBI.
It’s been recently revealed that the SPLC gave 3 million dollars to racist groups, ostensibly under the guise of paying ‘informants’. It seems very likely the money trail will show the 3 million went into funding for publicly viewed racist activities ( which would of course be fantastic publicity for SPLC fundraising ).
There is enough smoke here to safely assume there’s a fire. The SPLC needs replacement.
It's truly a sad reflection on the state of our government that when I read the DoJ's press release about these charges, all I could think is that the charges are probably not legitimate and are instead politically motivated. This administration has no credibility left whatsoever.
Then to see Fidelity take a political stand - well, given my terrible experiences with that company, I can't say I'm surprised.
I don’t see this as Fidelity taking a political stand, but a conservative risk management decision.
It's astonishing that the left is upset about the SPLC being indicted for funneling money to white supremacist groups.
DAFs (U.S. tax law) were never meant to benefit charities, they are a way to give donors a tax break today by putting money in the hands of for-profit entities like Fidelity in exchange for a vague promise to maybe someday donate to an actual charity.
https://blog.charitywatch.org/the-dark-side-of-donor-advised...
I wonder if Fidelity is putting a similar restriction on those age 70 and above who wish to make a Qualified Charitable Distribution (QCD) from their Traditional IRA to Southern Poverty Law Center. This would be even worse, since it is not Fidelity's job to audit the charitable deductions made via QCDs.
I've seen situations where Fidelity won't let you OR your spouse access your retirement funds if your spouse ends up in legal trouble. I really wouldn't keep money you need to be able to access with them. My friend ended up in prison non-finance related and his wife didn't have access to their retirement account (luckily she had other income sources).
https://archive.is/IvVBz
I guess Fidelity doesn't want to help fund hate groups. https://www.justice.gov/opa/pr/federal-grand-jury-charges-so...
They were paying confidential informants for tips they would use in investigations and pass to law enforcement. Not QUITE the same as being a hate group.
Sure, sure - that's why they went to lengths to ensure the money wasn't traceable back to them, right?
You mean like undercover cop trying real hard not to show his pay slip to mob members?
>I guess Fidelity doesn't want to help fund hate groups
Your "guess" is not the stated reason. FTA:
>“Consistent with our grant-making standards and practices, the organization is not an eligible grant recipient during the ongoing investigation.”
In fact, WRT Fidelity's actual disposition on funding hate groups, the SPLC reported in 2023 that their donor advised fund had been consistently used to that effect, including anti-LGBTQ, anti-government, anti-Muslim, and hard right groups.[0]
[0]https://www.splcenter.org/resources/hatewatch/extremist-cryp...
The Trump regime's campaign to radicalize as many people as possible continues unabated.
I see it differently.
The SPLC has been out of control for a long time. They’ve been sued by Black employees and women, for being racist and sexist in employment practices. Gay employees have publicly complained also.
The SPLC started calling religious organizations hate groups, which led to a disassociation by the FBI.
It’s been recently revealed that the SPLC gave 3 million dollars to racist groups, ostensibly under the guise of paying ‘informants’. It seems very likely the money trail will show the 3 million went into funding for publicly viewed racist activities ( which would of course be fantastic publicity for SPLC fundraising ).
There is enough smoke here to safely assume there’s a fire. The SPLC needs replacement.
Good