Sunday, March 3, 2013

Downtown Greensboro Foundation Audit

The Downtown Greensboro Foundation is one of the shadow companies of Downtown Greensboro Incorporated. Here is their audit ending 2011. They were apparently created in 2011 as a means to hide at least some of the assets of Downtown Greensboro Incorporated. I mean seriously, was there really a need to start a new foundation just to manage an ice rink that gets set up in a park DGI already manages? Follow the link to view their filings at the NC Secretary of State.

And is a State level audit in your first year of operation a normal occurrence for a non profit?