HSUS Has Quietly Sent $26 Million to the Caribbean

DiggingDogA sharp-eyed reader pointed us to something buried in HSUS’s latest tax return, covering the year 2012. On page 32, HSUS states that it made an “investment” total $25.7 million in the “Central American and the Caribbean” region. We went back to HSUS’s 2009, 2010, and 2011 tax returns. There were no reported investments of any kind abroad.

Strange? We think so.

Where exactly is this $26 million “invested”? It turns out HSUS funneled mega-bucks to several funds located in the Cayman Islands. You know, the secretive place where secretive people stuff their secretive money. Bond villain-type stuff.

So where did HSUS donor money go? According to its 990-T and supplemental forms:

  • $500,000 to Ascend Partners Fund I, L.P., a Cayman hedge fund
  • $253,000 to BKM Holdings (Cayman) Ltd.
  • $8 million to Fore Multi Strategy Offshore Fund, Ltd., in the Caymans
  • $5 million to Hayman Capital Offshore Partners, L.P. in Bermuda
  • $6.7 million invested in Fir Tree International Value Fund in the Caymans

We did a little more digging into these groups, which appear to mostly be hedge funds. But why would a U.S. charity be putting $26 million in the Caribbean? (And the figures above only add up to a little over $20 million—where’s the other $5 million?)

HSUS is a non-profit. It’s not in the business of investing money in hedge funds to make a profit. It’s in the business—according to its ads—of saving animals now. Now means right away—not in 10 years when HSUS may have made a loss on its Caribbean investments. (HSUS reports in its 990-T losing $61,000 in 2012 on various partnerships.)

The bottom line: It’s hard to save animals when you’ve parked $25 million offshore.

There’s a reason people write “H$U$.” It’s because money seems to come first for the cynics and the bean-counters running HSUS. And it’s one more reason to give to your local shelter directly, not to a questionable national organization that might stick your donations in the Caymans.

Posted on 03/19/2014 at 5:18 pm by Humane Watch Team.

Topics: MainThe Best of HumaneWatch

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  • MisterCadet

    Way to go, Ellen’s DeGeneres’s favorite charity! I’m sure Samsung Corporation will be happy to know how where Humane Society donations really go. And they should be told. There is no charity in America less worthy of that $1.5 million.

    Speaking of Ellen (the real Ellen), I encourage Humane Watchers to read “Ellen DeGeneres Disappears Another Dog.” It was written by a true dog lover. Neither Ellen nor Wayne is a dog lover. They just play one on TV.

    • Linda Tyner Richardson

      amen – thinking the same thing about Ellen, giving so much to them – I’m like WTH??/

  • ejstruan

    Great bit of research. We’ll be able to use this over and over when the trolls post the lies.

  • truthful

    I can’t stand Ellen or anything about her! And this outfit HSUS needs to disappear!

  • Gary Patsy

    WTF ?

  • Middleman

    What does the HSUS need with that kind of money at the islands?? Are they EXTERMINATING marine life ruthlessly too now?!? Christ no land nor sea creature is safe from HSUS killing them!

    • MisterCadet

      Perhaps they want to hide some of the money they took in between late October of 2012 and the end of the year, if you catch my drift. And the Cayman Islands have very sandy beaches.

  • damorris

    The CEO and other high-ranking officers of HSUS will undoubtedly conduct study sessions in the Grand Caymans every Winter just make sure their investments are being well looked after. There’s nothing like a six week vacation….er ..study in the tropics to reinvigorate a harried executive.