The deceptively named Humane Society of the United States only spends 1% of its budget on grants to help local organizations care for pets. But HSUS can afford to send $26 million—the equivalent of 20% of its budget—to offshore hedge funds. It’s a case of putting tax shelters ahead of pet shelters, and it comes on top of the $25.7 million HSUS put into the Caribbean in 2012.
In 2013, HSUS reports that it sent $26 million to the Caribbean and Central America. Where exactly did that money go? A supplemental document tells us:
- Convexity Capital Offshore LP [Class Q] (Cayman Islands): $3,500,000
- ESG Cross Border Equity Offshore Fund (Cayman Islands): $5,000,000
- Holowesko Global Fund (Bahamas): $5,000,000
- Steadfast International (Cayman Islands): $5,000,000
- Convexity Capital Offshore LP [Class G] (Cayman Islands): $5,000,000
This only adds up to $23.5 million, and HSUS declared $26 million going to the Caribbean and Central America. Where’s the other $2.5 million?
A better question is: With all this money, why can’t HSUS afford to spend more on pet shelters? This holiday season, make sure your friends and family know to avoid this rip-off of a charity and support their local pet shelters—which probably don’t get a dime from HSUS—instead.