Is a Billionaire/Millionaire Homeless Sleeping in the Street Time Tax Deductible? — 11/21/2014

For Your Entertainment (FYE)

It could be called “From Wall Street to Main Street Gutter” and looks like a temporary research assignment in social work thesis studies about homelessness ……;+)

But, on second reading, it looks more like a Wall  Street “unemployable” trader reconversion capitalizing on, hopefully, one future NYT top readers list publications, at best, and tax deductions documentation for estimated daily “burn rate”, at least…….;+)

Welcome to the new US Billionaire/Millionaire gig………..;+)

Imagine Gingling Bell on the street corner as the only way to avoid freezing solid in this “artic freeze”weather wave………:+(

“The shocking reality is that nearly one in 30 children in America experiences homelessness every year, according to a recent study by the National Center for Family Homelessness.”
Covenant House, an organization that helps homeless youth, is holding its fourth annual Sleep OutExecutive Edition in New York City, where they invite more than 200 executives to actually sleep on the street for a night to raise money — and awareness. The motto is “We sleep out so others don’t have to.” “

“In February 1990, Covenant House founder and President Father Ritter was forced to step down in the wake of allegations of sexual and financial misconduct, beginning with the accusations of Kevin Kite. Soon after, more accusations surfaced, as four more men came forward claiming to have been sexually involved with Father Ritter. Manhattan District Attorney, Robert M. Morgenthau, began looking into possible financial improprieties or the use of false documentation by Covenant House officials. The Manhattan District Attorney’s office announced that it was ending its investigation of Father Ritter’s alleged financial misconduct and would not file criminal charges, on the day after his resignation.

“Covenant House’s board of directors immediately commissioned an independent investigation conducted by private investigative firm Kroll Associates, and one of the top law firms in the country, Cravath, Swaine & Moore. After a five-month investigation, 150 interviews, and the poring over of thousands of pages of documents, their report noted that on the subject of sexual misconduct, “none of the allegations, when viewed individually, can be proved beyond any question.” Nonetheless, the report confirmed, the “cumulative” evidence against Father Ritter was “extensive.”

“Their report also cited a number of minor financial irregularities, but added that fundraising was professionally and efficiently managed. Sister Mary Rose McGeady, then associate director of Catholic Charities for the Diocese of Brooklyn, became President of Covenant House, instituting both financial and program-related reforms.”

Is it that, in this economy, even homeless money attracts all kinds of “hedge funds” operators?????……;+)


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