ACORN Bankruptcy Filing Raises New Questions and Concerns

[WestVirginiaRebel]

Fox News:

While the rest of the nation was out voting last Tuesday, ACORN -- the major voter registration organization in cities and among the poor -- was quietly filing for bankruptcy in a Brooklyn, N.Y., courthouse a few blocks from its main office.

But despite the bankruptcy filing, many of the group's critics remain suspicious of the community organizers' intentions.

Court documents show that ACORN -- the Association of Community Organizations for Reform Now -- suffered a massive loss of public support over the past two years, and that the group and six affiliates now are more than $8.6 million in debt and have only $218,709 in cash.

According to the filings, ACORN took in $46.1 million in 2008. That dropped to $16.2 million last year, and contributions dwindled to just $1.57 million in the first 10 months of this year.

Because ACORN was incorporated as a private foundation, its funding sources have been wrapped in mystery. But this much is known: Its major backers have been labor unions, foundations and corporate philanthropies, as well as dues from members. Government grants are also part of the mix -- Republicans released figures late last year that showed ACORN received $31 million in federal funding in the past 10 years -- but those grants were hardly on the scale of donations from wealthy foundations like the $2.4 million from JPMorgan Chase or the $1.5 million from Citibank.

Last year Congress voted to defund the organization, which at one time boasted a membership of 400,000, with more than 1,200 neighborhood chapters in 75 cities.
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Well, it looks like it's back to dead voters and union thugs for Obama in 2012...