Anatomy of a Clinton Scam
“The bigger the lie, the more likely the buy-in” — that must be the theory underlying a plan relentlessly executed by Bill and Hillary Clinton to suck money from the public in support of a supposed “charity” currently known as “Bill, Hillary & Chelsea Clinton Foundation.”
Unlike the Bill and Melinda Gates Foundation that was originally funded primarily by the Gates family, the Clinton Foundation was meant to take money from the general public, and from governments.
So, affairs of the Clinton Foundation were never supposed to be directed by the Clinton family. But public records apparently prove that strict rules governing the conduct of public charities are not applied when it comes to long-time “public servants” such as the Clintons.
Incorporated but not Organized
Incorporated on Oct. 23, 1997, just as word started to leak of Bill Clinton’s dalliance with Monica Lewinsky and while doubts crested concerning foreign funding for the Clinton legal defense effort, the main Clinton charity was originally named “The William J. Clinton Presidential Foundation” in papers filed with the Arkansas Secretary of State by three lawyers.
However, to qualify for federal tax-exemption, a charity must be formally organized not simply by lawyers but by, at least three truly independent directors, who needed to adopt articles of incorporation and bylaws in a formal organizational meeting before the entity conducted official operations. Bylaws for this entity may not have been formally adopted by initial directors (referred to as “Trustees”) until Dec. 23, 1997 as you can see for yourself by reviewing these materials available through the main Clinton Foundation website.
A reasonable question to ask is: what did “The William J. Clinton Presidential Foundation” do, if anything, prior to adopting bylaws, and how did they accomplish these actions before becoming formally ”organized “?
“Formless aggregations of individuals” are not “organizations”
Well before Dec. 23, 1997, Clinton allies laid groundwork required to erect the Clinton Foundation in a portion of Little Rock that had long been run-down, depressing local property values.
However, the IRS explains that only “organizations” are eligible for exemption from taxes, not “formless aggregations of individuals”:
“An individual, partnership, or formless aggregation of individuals, however, cannot qualify for exemption under IRC 501(c)(3). If it is determined that no organization exists, the applicant will be advised that no ruling or determination letter can be issued [emphasis added].”
Newspaper accounts, court records and other publicly available information show that early efforts on behalf of the “Clinton Foundation” were not conducted in corporate form, but instead loosely and informally, chiefly by Clinton political supporters.
For example, on Nov. 7, 1997, City of Little Rock public meeting notes state: …