Sharpton and NAN's board of directors put up "over seven figures" to begin paying down tax arrears, she said.
"By the end of the calendar year 2010, there will be no tax liabilities as per our agreement in '08 with tax authorities," the spokeswoman added.
Meanwhile, the audit found that NAN was a defendant in five lawsuits:
* Alpha International Travel accused the group of failing to pay $50,000 in outstanding bills. NAN settled the case.
* The Peabody hotel in Memphis, where NAN held its 2008 convention, accused NAN of stiffing it out of $70,000. NAN is contesting the charges.
* NAN's Arizona chapter is accused of being a deadbeat tenant. The organization is fighting the claim.
As a nonprofit group, NAN is required to file its financial report with the state attorney general's charities bureau as well as the IRS. NAN has requested an extension to file its 2009 report.
Far from closing shop, Sharpton has opened new NAN chapters across the country the past two years.
But such an expansion is a costly mistake, said one insider familiar with the group's finances.
"Sharpton is the face of NAN," the source said. "The strength of his personality and his ability to mobilize people around issues is what makes the NAN work. Adding chapters doesn't add anything."
Read more: http://www.nypost.com/p/news/local/al_net_lo_es_f52rRrLNnBRAZagK0TgvwN#ixzz0yy0WUMb4
Jew baiting and Arson just might not be all that lucrative - filthy, but not lucrative.