Henry Louis Gates is the founder of The Inkwell Foundation, which provides $500 grants to scholars to conduct research in African-American studies. The foundation received $205,400 in direct public support in 2007, and provided $27,000 in grants. However $17,000 of the grant money went to the organization’s treasurer, a secretary, a board chairwoman and Gate’s fiancée. By reporting what is really compensation as grant money, Gates and the recipients were able to avoid paying federal, state and local income taxes, social security and Medicare taxes and workman’s (work-person’s) compensation premiums.
I wonder if Professor Gates and Treasury Secretary Geithner use the same tax preparation services?
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Professor Gates also owns a commercial venture called AfricanDNA, which helps people of African descent trace their ancestral roots back to Africa, for a $189 fee. A major contributor to the Inkwell Foundation was AfricanDNA, and some of the people associated with AfricanDNA received grants from The Inkwell Foundation.
Humm.
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