The Community Foundation of North Louisiana (CFNL) is a non-profit organization.
The foundation holds itself out as the Guardian Angel for the northwest Louisiana area, providing funding for needed and worthwhile projects. Each year it sponsors the largely successful Give for Good event that raises money for many non-profits.
All these funds are paid by the foundation, which gets a cut of the money.
The same is for grants that the foundation administers. The foundation has a large staff and enjoys fancy offices in the lobby of the Louisiana Tower. The foundation's director is always out and about wearing high-dollar, unprofessional-looking threads while preaching the gospel of the charity and goodness of the foundation.
Now the foundation is raising money for a NOLA publisher who has a net worth of $350 million -- or more. Yes, the beloved non-profit Community Foundation is pimping to help establish a state-wide monopoly of newspapers.
The NOLA ultra-millionaire wants northwest Louisiana to fund his venture to the tune of $1.5 million over a three-year period.
Reportedly, almost $500,000 has been pumped into this for-profit enterprise.
Is this effort what the Community Foundation was established for?
What does this say to locally owned media publications in Shreveport-Bossier?
Why underwrite this venture?
Is this a violation of the non-profit status of the foundation?
Stay tuned. Litigation may be forthcoming if these questions are not satisfactorily answered by the foundation.