Posted by mjo on September 27, 2009, 6:32 pm, in reply to "Re: More financial problems for Sarah Ferguson"
96.227.150.71
--Previous Message--
:
:
: Or should I say the "Dutchess" as
: the poor excuse of a headline writer for the
: NY Post calls her? (And where is the
: editor? Can't he or she spell, either?)
:
: Anyway, here's some quotes:
:
: Fergie, as she is known, launched New
: York-based Hartmoor LLC in 2006 to promote
: her business interests in publishing, the
: media and her public appearances.
:
: (snip)
:
: A large proportion of the Duchess's US
: earnings came from her role as international
: ambassador for Weight Watchers -- but that
: gig ended last year.
:
: George Bonini, a lawyer leading the
: dissolution of Hartmoor, said the process
: began in January --not long after her Weight
: Watchers contract ended.
:
: A source close to the Duchess' New York
: interests told The Post that Fergie had
: decided to close up her company because it
: was poorly managed.
:
: "This company was not run well, there
: were many problems so the interested parties
: decided to go their separate ways,"
: said the source, who noted Ferguson still
: has some lesser business interests in the
: US, like book deals and speaking
: engagements.
:
: (snip)
:
: Hartmoor "ceased good standing" in
: June last year, records show, and owes
: $737.38 in taxes -- roughly three times the
: $250 annual levy. That suggests it paid no
: taxes for the entire time it was legally
: registered.
:
: Things are equally murky at 444 Madison
: Avenue -- the registered office of the Sarah
: Ferguson Foundation. The foundation's 2007
: tax return shows it does not seem to do a
: great deal. That year, it raised $508,620 in
: "direct public support," but paid
: out only $22,600 -- $10,000 of which was
: sent directly to the Duchess's own
: Italy-based Children in Crisis organization.
:
: (snip)
:
: The tax return, which is signed with the
: Duchess's trademark 'Sarah' moniker, does
: detail one charitable event in 2007 -- that
: lost more than $100,000
:
: ===============
:
: Interesting that she signs her American tax
: returns with only her first name as if she
: were still a Royal.
:
:
:
: ===
:
: A lot of foundations and charitable
: organizations are scams. You set yourself
: up as a 501(c), accept donations and pay
: yourself a salary. You have fundraisers all
: year and write off the expenses. As long as
: you write checks at least once per year to a
: charitable organization you're golden.
:
: Sarah's organization might be legitimate,
: but it smells like so many that serve the
: founders more so than those whom they claim
: to serve. How did she raise over $500,000
: (including one event that lost $100,000) and
: pay out only $22,600 from the remaining
: $400,000? "Not managed properly"?
: What an understatement!
:
: ===
:
I have the article in front of me. It's not complimentary. I agree that the foundation sounds self serving. I wonder what the real Sarah is like.
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