Rev. Al Sharpton's National Action Network climbing out of debt
After the National Action Network's problems became public in 2008, Sharpton met with its board and decided not to declare bankruptcy...
The Rev. Al Sharpton’s civil rights organization, National Action Network, said Tuesday that it is putting its deep financial difficulties behind it.
The statement came in response to a news report providing details about the organization’s shaky financial footing at the end of 2008. Tax records show it was constantly in debt and owed nearly $2 million in back taxes.
“The organization’s tax liabilities were reduced in 2009 by over 50 percent and will be probably reduced to zero by the end of the calendar year 2010,” Noerdlinger said. “In fact, Reverend Sharpton himself has loaned a lot of resources to the organization to lead the way toward its present health.”
After the National Action Network’s problems became public in 2008, Sharpton met with its board and decided not to declare bankruptcy. This year, the group held a fundraiser featuring Bill Cosby and Mariah Carey that raised more than $7 million for National Action Network, Noerdlinger said.
Click here for the full story.
