Wednesday, April 30, 2008

What to Do With Extra Campaign Funds? Give Them to Your Charity

The New York Times reports that in December 2007 former U.S. Senator Robert G. Torricelli directed his now dormant campaign account to transfer $1.6 million in remaining funds to a charity he created.  The funds are left over from his 2002 re-election race, which he quit amid allegations of ethical misconduct.  The charity is the Rosemont Foundation, which Mr. Torricelli started last year to advance cancer research, open-space preservation, prevention of child abuse, and prevention of cruelty to animals.  The charity has not apparently announced any specific plans for using the funds.  Federal election law permits campaign committees to transfer extra funds to charities. 

LHM

http://lawprofessors.typepad.com/nonprofit/2008/04/what-to-do-with.html

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