The Good Reverend founded his non-profit National Action Network (NAN) back in 1991. It’s designed to increase voter education and provide services to those in poverty. Sharpton has a net worth of $500,000.
According to The New York Times, Sharpton and his for-profit businesses owe $4.5 million in state and federal taxes as of November 2014.
Yet somehow this guy is allowed a bonus of $437,555 on top of his $250,000 salary from an organization that owes the IRS money.
The Smoking Gun did research and reviewed the NAN’s tax filing for 2016 which was signed by Sharpton in November 2017. From their report:
“In justifying the bonus, the National Action Network–which Sharpton controls–told the IRS that, over the past 25 years, Sharpton had “periodically declined compensation to ensure that the organization had sufficient operating funds to fulfill its payroll obligations and maintain ongoing operations.” The organization added that it had previously “received the services of the President and CEO without fully compensating for his services.”
Additionally, the group “recognizes that it did not offer any retirement or benefit package to the President and CEO in contrast to most peer organizations that do offer retirement or benefit packages.”
In a move to rectify this purported shorting of Sharpton, the organization provided him with a “one-time bonus” of $437,555. This retroactive payout was meant to address prior “compensation that was declined or not fully compensated.”
Read their whole story here.
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