The Hanoi Jane Fonda Charitable Foundation may have socked away close to a cool million in cash, but when it comes to giving any of that money away to charity, it seems they have fish hooks in their pockets:
According to the Jane Fonda Foundation’s most recent tax return–filed last year and covering calendar year 2011–the organization’s cash, stock, and bond portfolio was valued at $798,133. The filing lists the 75-year-old actress as the foundation’s president and chairman of the board, and reports that she devotes 10 hours a week to the charitable group.
In the most recent tax return, Fonda’s foundation reported making no contributions or grants. Prior tax returns show that the organization, which is headquartered in Atlanta, Georgia, similarly made no payouts in 2010, 2009, 2008, and 2007. In 2006, the group made a single $1000 donation to the Atlanta Obstetric and Gynecology Society.
IRS regulations require private foundations to make annual distributions totaling at least five percent of its assets. The rule is intended to prevent foundations from stockpiling and investing funds (while never making contributions, gifts, or grants). If applicable, the so-called Five Percent Rule could have forced Fonda to distribute a minimum of about $40,000 in 2011.
It’s amazing if you think about it, but Hanoi Jane has dedicated 10 hours a week for the last 7 years to her organization, and still hasn’t found a group rabid, marxist and anti-American enough to satisfy her into contributing a few dollars from her fish-hooked pockets. Hey, Jane, The Vietcong Against The Metric System is calling out in need of some $ocial Justice©, maybe it’s time to pony-up and unlock the vault.
If you are looking for the IRS to open up the books on the Hanoi Foundation, you best not be holding your breath. For unless she is made an honorary Tea Party member, there isn’t a snowballs chance in Dhin Cong that they will ever be scrutinized, audited or brought to justice.