According to public records, affordable Housing Developer Louis Wolfson, III (Pinnacle Housing) is chairman of the group Friends of Miami Dade College (formerly Friends of your Community College). This Political Action Commmittee (PAC) has $397,875 just sitting in a bank since September 2009.Why? It is a PAC, they say they are lobbying for education funding. Why don't they use this money? Most PAC's raise the money and spend it. Curiously, on 9/26/2008 they transferred $721,276 to a new PAC (shown as an expenditure in the graphic above). This money was never accounted for in the old PAC (see graphic left, hit it to enlarge it). Records also don't show what happened to the $323,401 or where the $721,276 came from in the first place. It just appeared. Usually they show how they raised the money in the reports. This is a public records mystery to me. Can anyone solve this puzzle?
2 comments:
Maybe the IRS can help you find the answer...
I was thinking the same thing...some sort of contribution EXCEPT, PAC's are not tax deductible. So I changed my mind on that.
Post a Comment