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from Weekly Standard
The Southern Poverty Law Center invests almost 20 percent of its nearly $320 million endowment fund in offshore equities and other investments. The 2016 annual report of the Alabama-based civil rights organization reports $69,093,576 of non-U.S. equity funds among the assets comprising the total endowment fund of $319,283,961, a fund the SPLC describes as a plan for the day when nonprofits like the SPLC can no longer afford to solicit support through the mail because of rising postage and printing costs. (Given that 2016 contributions topped $45 million, that day has not yet arrived.)
Although the details of most of the SPLC's foreign investments are unknown, the portfolio includes at least several million dollars in the Cayman Islands, the British Virgin Islands, and Bermuda, as Joe Schoffstall reported in the Washington Free Beacon last week. The Beacon quoted two financial industry executives who expressed surprise and incredulity about the SPLC's offshore investing.
∑ XahLee
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