Thanks Becker, now I know Invisible Children is a scam

  • Creator
    Topic
  • #167950
    2/15 n/30
    Member

    My friend pointed out that Invisible Children’s Kony 2012 video was dominating Facebook walls across the country. Did anyone else take a look at their financials and conclude it’s a giant scam?

    First red flag: Cayman Islands bank account

    Bec: 8/31/12
    Aud: 8/1/12
    Reg: 76
    Far: 73

Viewing 11 replies - 1 through 11 (of 11 total)
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  • #330482
    RedStorm45
    Member

    Haha I was waiting for this topic to pop up here. 40 million+ views in about a day and a half on Youtube.

    Starting all over.

    FAR - 11/27/13
    AUD - 1/4/14

    #330483
    2/15 n/30
    Member

    I also think it's funny that their “Schools for Schools” program funding got cut in 2011

    2009 2010 2011

    1,827,985 1,858,024 696,675

    It's really super that they cut what used to their biggest program by 62.5% in the year they had a 69% gain in revenue. Support the cause!!

    Bec: 8/31/12
    Aud: 8/1/12
    Reg: 76
    Far: 73

    #330484
    Elaine
    Participant
    #330485
    whatkey
    Member

    the organization has operations around the entire world, so it's not surprising they have an/many international bank accounts. additionally, i'm not even sure where you got that information because it wouldn't be in the F/S.

    They also have a TON more (2010 733k, 2009 453k) of TRNA for the Schools 4 Schools program…are we looking at the same F/S? All I see as a NFP that received a ton of funding and doesn't know what to do with it yet..

    https://www.scribd.com/doc/84347128/Audit-of-Invisible-Children-Inc

    Using Becker, Ninja Notes, and CpaReviewForFree

    FAR - 87 (2/17)
    REG - 89 (4/21)
    AUD - 89 (5/31)
    BEC - 89 (7/11)

    #330486
    2/15 n/30
    Member

    People who want to defer taxes put their money in an account in the Cayman Islands… Not non-profit

    I used their tax information and their F/S located on their website @ https://www.invisiblechildren.com.s3-website-us-east-1.amazonaws.com/financials.html under the tab FINANCIALS

    The Schools for Schools funding cut I saw on the Annual Report, also located on their website under financials.

    Bec: 8/31/12
    Aud: 8/1/12
    Reg: 76
    Far: 73

    #330487
    Texas27
    Member

    If you check their Form 990 which is filed to the IRS for non-profits it says that they operate from one location which is in California… They do not have branches, local chapters, or affiliates in any other location.

    BEC - Feb 2012: 80
    AUD - Feb 2012: 84
    FAR - Apr 2012: 78
    REG - May 2012: 90

    Thanks Becker!

    #330488
    whatkey
    Member

    ^ ah you're right, didn't think to check their 990. Interesting..carry on..

    Using Becker, Ninja Notes, and CpaReviewForFree

    FAR - 87 (2/17)
    REG - 89 (4/21)
    AUD - 89 (5/31)
    BEC - 89 (7/11)

    #330489
    jeff
    Keymaster

    Is the media reporting a scam? Are there indictments? I honestly have no idea what you're talking about. Are you declaring them a scam?

    AUD - 79
    BEC - 80
    FAR - 76
    REG - 92
    Jeff Elliott, CPA (KS)
    NINJA CPA | NINJA CMA | NINJA CPE | Another71
    #330490
    Texas27
    Member

    I know Jeff, this is too much for me to handle all at once!!! I must get back to studying because at least I think I can handle that!

    BEC - Feb 2012: 80
    AUD - Feb 2012: 84
    FAR - Apr 2012: 78
    REG - May 2012: 90

    Thanks Becker!

    #330491
    2/15 n/30
    Member
    #330492
    2/15 n/30
    Member

    F. That was internet sarcasm wasn't it?

    Bec: 8/31/12
    Aud: 8/1/12
    Reg: 76
    Far: 73

Viewing 11 replies - 1 through 11 (of 11 total)
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