John Georges has a net worth of $350 million.
He is a lifelong resident of New Orleans.
Georges owns newspapers in New Orleans (2), Baton Rouge, Lafayette and in Shreveport/Bossier.
He wants Shreveport/Bossier citizens to underwrite this local online paper to the tune of $1.5 million for a three-year term.
The Community Foundation of North Louisiana (CFNLA) is helping raise these funds.
The CFNAL website discloses a special fund has been established for this purpose.
Each online edition of the new paper solicits its readers "to make tax-deductible contribution to local journalism in the Shreveport-Bossier community CLICK here."
The tax-deductible contributions will then be funneled by the CFNLA to Georges for-profit business entity.
The CFNLA's executive director, Kristi Gustavson, has refused to answer these questions emailed to her:
QUESTIONS FOR GUSTAVSON ON SHREVEPORT-BOSSIER JOURNALISM FUND
1. I own FOCUS SB/The Inquisitor. Can I apply for a grant from this fund? If not, why not?
2. What is the current balance of this fund?
3. Who has contributed to this fund and in what amounts?
4. Why has the CFNLA established a fund to primarily benefit a for-profit entity?
5. Is it a violation of the CFNLA non-profit status to raise funds for a for-profit entity?
6. Has the CFNLA set parameters on the grants of these funds -- minimum and maximum amounts?
7. Is this fund solely for the benefit of the Shreveport-Bossier City Advocate?”
So what is the deal?
The directors of the CFNLA are Jerry Edwards (chairman), Lisa Cronin (vice chairman), Wanda Thomas (treasurer), Witt Caruthers (secretary), Lisa Childs, Glenn Kinsey, and Stephen Walker.
If you know any of the directors, please ask them why the CFNLA is helping subsidize Georges.