In a shocking revelation, it is revealed that TANA has filed income tax for a revenue of 7.88 million dollars in the recent financial year. This raises eyebrows as to how it could accumulate such a large amount, considering that everything that comes into its accounts is through donations.
Being a non-profit organization, there is insight that it has accumulated a large part of that amount through matching grants from the employees working in different companies. This forms the major chunk of the fund, insiders say.
It has booked expenses for $7,805,314. It was mentioned in the latest filing that the funds accumulated through Program Services amount to $4,713,945, which implies matching grants. This amount is greater than the figure mentioned under regular contributions, which is $3,058,887.
Additionally, the members from other Telugu associations are suspecting the movement of those funds. They share that some whistle blowers within TANA are also in the process of exposing misdeeds to put the organaization under surveillance, citing that another Telugu association, NATA, has been convicted by law for the misuse of matching grants as well as inappropriate movement of funds.
Even TANA, for that matter, is under the radar of the IRS, as one of its key leaders was caught in the disgraceful act of swindling funds in the name of earning interest on them, which is not permitted as per law.
On the whole, all eyes are on how TANA could accumulate 8 million dollars in a year, which is close to Rs 69 Crore. Getting that much in donations from individual contributions alone is not possible, and even if that happens, the question of where that fund is spent is also a point of concern.
Many allege that a huge fund traveled to India either in support of a party during elections or for other personal means of donors. However, all these are allegations and suspicions, and the reality will come out when the authorities probe into it.