GLAAD's $2.5 Million Deficit in 2011
The worthless media and Hollywood lapdog known as the Gay and Lesbian Alliance Against Defamation without any fanfare posted their IRS 990 for 2011 to their site and it's not a pretty financial picture. I last wrote about GLAAD in January when they laid off a quarter of their staff and I sure as hell wouldn't mind seeing every staffer finding more suitable employment as producers of meaningless awards shows, and the group going out of business.
The new IRS 990 shows revenue in 2010 was at $6.5 million, expenses came in at $7.0 million and GLAAD ran a deficit of only $450,000.
In 2011 revenue fell to $4.1 million, expenses jumped to $6.6 million and the deficit skyrocketed to $2,591,635.
A two-million, five-hundred ninety-one thousand, six-hundred thirty-five freaking million U.S. dollars in deficit. That's a lotta coin!
Net assets were listed at $9.5 million two-years ago and dwindled to $7 million last year. Nice that GLAAD had such a reserve to dip into to keep paying the staff their salaries.
Speaking of compensation, how much did controversial former executive director Jarrett Barrios rake in before he was canned?
The page above says it was a total of $233,673. He was enormously over-paid for his incompetence and arrogance, but he did look good in a tux on the GLAAD red carpet. Simply outrageous.
This page reports that Barrios' received a severance payment of $62,500 to say good-bye to GLAAD. I believe the severance payment was added to the $233,673 amount making his final check from this group that is a leech upon on the LGBT body politic a grand total of $296,173. Almost $300,000, and for what?
If I've made a mistake and the severance payment was included in Barrios' $233,673 check, the question remains the same. For what did he deserve this kind of rainbow parachute?
Since GLAAD is the farthest thing from a responsible LGBT advocacy organization and long has lacked a commitment to democratic engagement, there will be no public meeting with the group's leaders to discuss the new IRS 990.
And the Gay Inc beat goes on . . .
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