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Councilman
"Waldo" DeStefano... where are you?
by: KEVIN BROWN
Financial responsibility is a matter I
have become extremely conscience of over the last 10 years of my
life. As a founding director of a faith based non-profit I am
aware of what you can and can not do with the money you
generate. One important law is when an asset is sold, especially
a primary asset. If an organization sells it's corporate
headquarters and does not replace it those funds must either go to
satisfy debt or donated to another non-profit. Never, never are
you allowed to distribute the funds to members or officers. To
do so, violates the law.
The Link News ran a short blurb about
$400,000.00 is unaccounted for, not even the Past President of the
Long Branch Community Club knows where these funds are. The link
also said no one is even attempting to answer the question.
Councilman DeStefano has a responsibility to make public this
matter. How can I require the councilman to be
responsible? Because his mother-in-law and his sister were the
principals who may have walked away with the check.
Additionally, Mayor Schneider should be
more cooperative in the answer of this question in that his campaign
funds Treasurer Ms. Harrington is the sister of the of
Councilman DeStefano, an accountant - to boot!
I expect that an accounting of these
funds be made known immediately or the State Treasurer should be
notified. If the Community Club was never incorporated or does
not have non-profit 15A status in New Jersey and hence not required to
distribute these funds according to guidelines, than it appears that
they may have fraudulently benefited from tax exempt status for the years they owned
the property they sold for $400,000.00. Either way ignoring
questions concerning the where a bouts of the $400,000.00 should not be ignored.
Does anyone hear the barkers?
"Peanuts, popcorn, cold drinks!"
see you next time.
KB
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