I read the news that The Chairman of Washington FOBANA is asking to see the Financial Statements or Balance sheets for their Earning and Expenses. I believe it is a very fair and honest demand.We are dealing with more than two hundred thousand dollars for every convention and after the convention no one knows what happened to those money.You will see the Host committee and the Executive committee keep saying "We have lost the money, we have that much debt", On the other hand they seems very happy.
And these kind of nonsense happening to both FOBANA. If the FOBANA is a non-profit Corporation and holding a 501c(3), According to the law if they receive more than 25,000 dollars in one year, they must file their tax return and must have Balance Sheet. Every 3 year IRS does the Audit and if they don't then as soon as they find out money was raised more than 25,000 dollars then they will.
I think as a concern Citizen and knowing that the Host and Exec.Committee wasting the money for their dirty pleasures, we should ask the IRS to do the Audit after every Convention and the prior ones too.
We all would like to see the Transparency . And asking the previous all FOBANA Convenors to Exec.Committee to come up with your Financial Statements or Balance Sheet and post it in your web-page as soon as you can.
Thank you.
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