Opednews.com was one of over 200 progressive non-profit organizations that had substanital funds vanish. What all of these organizations had in common was their non-profit 501c3 fiscal sponsor known as the International Humanities Center, or IHC. The IHC provided donation processing services for the non-profit organizations including OEN.
Several detailed articles have been written on the failure of the IHC, and these are linked to below for those interested in the sad tale of how all these progressive organizations lost much of their current operating funds.
As a reader of Opednews, and perhaps a donor, you'll want to know that OEN lost about $10,000 of funding donated to us from members when the IHC failed. Some of the other sponsored organizations lost much more money. The failure of the IHC is currently under investigation.
Fortunately, because of interventions Opednews took six months earlier and again in early January, at least $5000 in other donations were protected. Opednews is still in the process of doing due diligence to identify a new non-profit 501c3 fiscal sponsor.
While working on that process Opednews.com is continuing to accept new donations. Checks will be held by opednews until deposited with our new fiscal sponsor. Credit card donations will be held by the credit card processing org, a reputable company that serves literally thousands of progressive organizations-- ie., a trusted operation, until the donations are deposited in the fiscal sponsor account, with acknowledgements and receipts provided.
This has been a very difficult time for OEN and the other progressive organizations that were victims of the failure of the IHC.
Here are links to the most significant articles reporting on what is known about the failure of the IHC so far.
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