During the COVID-19 pandemic Congress created the Paycheck Protection Program to grant loans to small businesses and organizations if they would keep their employees on payroll, which was an attempt to mitigate the impact from the government-ordered shutdown of businesses and churches.
Then, if a few simple conditions were present, the “loans” were forgiven.
Since then, multiple investigations have begun into apparently fraudulent behavior and it’s been revealed that even America’s billionaires got some of the money.
Now an investigative report from Fox News shows that a group linked to Georgia gubernatorial hopeful, Democrat activist Stacey Abrams, got nearly $500,000 of that money – even though its income was swelling by tens of millions of dollars at the same time.
The network reviewed tax forms to reveal that the New Georgia Project, which Abrams founded in 2014, got a $482,000 Paycheck Protection Program loan in May 2020, during the first round of bailouts for financially strapped and needy small operations. It reported using the money for 95 jobs.
“But a Fox News Digital review of the New Georgia Project’s tax documents shows that the left-wing voter registration group was far from struggling and finished that year in its best financial shape since its inception six years prior,” the report said.
It cited 2020 tax forms to reveal the “nonprofit” took in the COVID cash while “gathering $24.5 million contributions and grants.”
In fact, the 2020 income was nearly $23 million more than the $1.6 million income in 2019, the tax documents confirmed.
Some of the new money went to salaries, as its executive director, Nse Ufot, got a raise of more than $69,000, but it also finished the year with about $18 million in net assets, the report said.
The group’s donors “remain in the dark,” the report said.
But the investigation confirmed that the state ethics commission already has ruled it and its affiliated action fund probably violated financial disclosure laws by not reporting millions spent on elections, including boosting Abrams during her failed 2018 run for state office.