IRS Targets High Dollar Foundations
Good Foundations Thrive; Bad Foundations Challenged
By James P.
Mathews, a regular at secret Bilderberg meetings in recent years, heads the
Washington-based Carnegie Endowment for International Peace. Her mission is to
help implement the program dictated to her at these Bilderberg meetings.
She is paid $280,000 a year with an additional
$42,000 in “benefits.” The foundation’s assets are $232.6 million. Since
donations to the Carnegie Endowment are tax-free, American taxpayers subsidize
the foundation by making up for the taxes not paid.
But the gravy train for Mathews and many others
may be coming to a halt. The Internal Revenue Service announced Aug. 9 that it
would scrutinize 2000 foundations and charities.
“We are concerned that some charities and
foundations are abusing their tax-exempt status by paying exorbitant
compensation to their officers and others,” explained IRS Commissioner Mark
In the foundations league, Mathews is modestly paid
and has limited assets.
Susan B. Berresford, president of the Ford
Foundation, struggles along on $661,713 a year, plus $169,477 in benefits and
expenses of $7,491, for a total of $828,681.
The original Henry Ford intended his foundation to
serve America’s best interests. For decades now, it has funded a mishmash of
groups, some with anti-American views. Through tax-free donations, you are,
however reluctantly, subsidizing the foundation.
The Rockefeller Foundation of New York pays its
treasurer, Donna Dean, $677,597 plus benefits of $51,045, for a total of
$728,642. This generation’s family patriarch, David Rockefeller, is a charter
member of Bilderberg and founder of its brother group, the Trilateral
Commission. Rockefeller has also been involved in a number of organizations
that have helped large American companies eliminate jobs domestically and move
Other foundation fatcats include Kellogg’s William
C. Richardson, $530,250 plus $189,585 in benefits; Knight’s Hodding Carter III,
$430,536 plus $72,641; Kresge’s John Marshall, $423,333; Lilly Endowment’s
Thomas M. Lofton, $822,000 plus $390,132; Lumina Foundation for Education’s
Peter C. Morrow, $474,203 plus $1,450,943; MacArthur’s Jonathon Fanton,
$458,803 plus $59,377; Mellon’s William Bowen, $489,000 plus $138,045; Sloan’s
Ralph Gomory, $552,500 plus $61,288; Starr’s Florence Davis, $575,000 plus
$16,284; Robert Wood Johnson’s Steven Schroeder, $536,876 plus $60,182 and
Hewlett’s Paul Brest, $454,850.
Dorothy S. Ridings, president of the Council on
Foundations, survives on $329,446 in compensation and $65,480 in benefits and
expenses. Vance T. Peterson, president of the Council for Advancement and
Support of Education, limps along on a $300,000 salary.
Some people have the imagination to fund a
foundation and get most of the money back. The Bielfeldt Foundation has doled
out $25 million to charity over 17 years. But it has paid $21 million to its
founder, Gary Bielfeldt, his son and the family money management businesses for
investment advice, the Peoria, Ill., Journal Star reports.
Because of their tax-exempt status, these
foundations’ projects and lavish salaries are subsidized by American taxpayers
who must make up billions of dollars in lost revenues.