Skip to content

Caribbean Capers: “Humane Society” Stuffs $26 Million in Offshore Funds



reprinted from HumaneWatch.org

It’s hard for the Humane Society of the United States to save animals when it has parked $26 million offshore. That’s what readers of USA Today are learning with our full-page ad in the paper this morning.

The Humane Society of the United States scandalously only gives 1% of its budget to local pet shelters, and it doesn’t run any pet shelters of its own. But it has plenty of money to bury in the sand. Deep in HSUS's latest tax return is the group’s admission that it made “investments” totaling $25.7 million in the “Central American and the Caribbean” region. There were no reported investments of any kind abroad in HSUS’s previous three years of tax returns.

Why is a group that pledges to rescue animals in need quietly burying $26 million in Caribbean accounts? And where exactly is this $26 million “invested”?

It turns out HSUS funneled mega-bucks to several funds located in the Cayman Islands. The secretive place where secretive people stuff their secretive money. Bond villain-type stuff. According to its 990-T and supplemental forms, HSUS made the following “investments”:
• $500,000 to Ascend Partners Fund I, L.P., a Cayman hedge fund
• $253,000 to BKM Holdings (Cayman) Ltd.
• $8 million to Fore Multi Strategy Offshore Fund, Ltd., in the Caymans
• $5 million to Hayman Capital Offshore Partners, L.P. in Bermuda
• $6.7 million invested in Fir Tree International Value Fund in the Caymans

Why would a U.S. charity be putting $26 million in the Caribbean? (And the figures above only add up to a little over $20 million—where’s the other $5 million?) HSUS is a non-profit. It’s not in the business of investing money in hedge funds to make a profit. It’s in the business—according to its ads—of saving animals now. Now means right away—not in 10 years when HSUS may have made a loss on its Caribbean investments. (HSUS reports losing $61,000 in 2012 on various partnerships in the 990-T.)

There’s a reason people write “H$U$.” It’s because money seems to come first for the cynics and the bean-counters running HSUS. And it’s one more reason to give to your local shelter directly, not to a questionable national organization that might stick your donations in the Caymans instead of helping the shelter pets it cynically uses in its ads.

More Stories

  • TWHNC welcomes new CEO

    The Tennessee Walking Horse National Celebration (TWHNC) has hired Warren Wells to be its new Chief Executive Officer. Wells will be the fifth CEO in the Celebration’s rich history.  Wells, originally from Bedford County, currently lives in Signal Mountain, Tenn... Read More
  • FAST makes donation to Bedford County Cancer Society

    The Foundation for Advancement and Support of the Tennessee Walking Show Horse, FAST, hosted two Red Ladies classes at their Spring Showcase a few weeks ago. The classes were held in memory of Kathy Zeis who was a founder of FAST as well as a long-time exhibitor.  Read More
  • WHTA Fun Show meetings scheduled

    The WHTA Show Board of Directors will meet Wednesday, May 26, at 4 p.m. The General Membership meeting will follow at 5 p.m. Both meetings will be held at the Blue Ribbon Circle located on the Celebration grounds in Shelbyville, Tennessee. Read More
  • Latest Issue 5 10 21

    Read More
  • Birth Announcement – Jonah Smith Harney

    Jonah Smith Harney was born on Friday, April 23 at Ascension St. Thomas to proud parents Justin and Rebekah Harney. Jonah joins big brother, Jack Harney... Read More
  • Additional money added to the trainer who brings the most horses toWalking For Cancer

    An additional $250 has been added to the $500 reward for the trainer who brings the most horses to Walking For Cancer, scheduled for Saturday, May 8. The total reward will be $750 for the trainer bringing and showing the most horses.  Read More
  • Equine Obituary – The Royal Dollar

    The only bad thing about horses is that they can never live long enough. Sadly, The Royal Dollar was humanely euthanized on April 29, 2021, due to crippling arthritis and other orthopedic difficulties... Read More
  • WHTA Auxiliary to host Money Tree Classic

    The Walking Horse Trainers’ Auxiliary will once again host the Money Tree Classic during the Fourth of July Weekend. The show will be held on Friday, July 2, 2021 in Calsonic Arena. Steve Glidewell, Jason Hughes and Johnny Puckett will mark the cards for this year’s event... Read More
  • Birth Announcement – Ford Thaddeus Way

    Ford Thaddeus Way was born on April 13, 2021 to parents Thad and Erica Way. This 5th generation horseman joins his proud big sister, Elliott Ann. He weighed 6 lbs 12.9 oz and measured 19.5 inches long... Read More
  • PRHTA revises class schedule

    The PRHTA Horse Show, scheduled for May 7-8, has revised their original class schedule... Read More