REPORT: Stacey Abrams’ Group Took $500K in Covid Cash Despite Having $20M in the Bank

A non-profit linked to Stacey Abrams reportedly received $500,000 in covid-relief funds despite having millions of dollars in the bank.

From Fox News:

Georgia-based voter registration nonprofit founded by Democratic gubernatorial nominee Stacey Abrams received nearly $500,000 in COVID-19 bailout cash during a year its donations swelled by tens of millions of dollars, according to tax forms.

The New Georgia Project, which Abrams founded in 2014, applied for and received a $482,000 Paycheck Protection Program (PPP) loan in May 2020 as part of the first round of bailouts intended to help financially-strapped small businesses retain employees during the pandemic. The loan says it went towards 95 jobs.

But a Fox News Digital review of the New Georgia Project’s tax documents shows that the left-wing voter registration group was far from struggling and finished that year in its best financial shape since its inception six years prior. 

According to the New Georgia Project’s 2020 tax forms, which weren’t publicly available at the time of the loan, the nonprofit received the COVID-19 cash amid gathering $24.5 million in contributions and grants. Its 2020 donations were nearly $23 million more than the $1.6 million the group received in 2019, the tax forms show.