I have conducted a detailed analysis of the Greer non-profit empire. Greer’s 2013 non-profit tax returns are available on-line. Here is my analysis of Edgewood Village, Inc. The other non-profits will also be examined. Stay tuned.
The Edgewood Village tax return lists Daniel Greer, Sarah Greer (wife of Daniel Greer), Emanuel Gettinger, James D. McAdam, and William Gallagher on the Board of Directors. Greer claims he worked 5 hours per week at this operation and Sarah worked 2 hours per week. The other men list that they worked one hour per week for this non-profit. Emanuel Gettinger was a rabbi from Manhattan. He is deceased. He rarely came to New Haven. I don’t think he ever worked at the compound. I have never seen or heard of James D. McAdam. I searched him on google and found a man from Branford, who is now deceased, named James McAdam. William Gallagher was an attorney who robbed his clients of millions of dollars. He is deceased. Before he died he used to tell lawyers in New Haven, “I am going to have to work until the day I die.” Nobody realized at the time that he had to work until the day he died in order to cover up his thievery.
Edgewood Village puts a value of about $5.4 million on it’s real estate empire for 2013. Edgewood Village took a Donald Trump sized depreciation deduction of about $1.7 million, to arrive at a net value of $3.7 million for tax purposes. There are no liabilities listed on the tax return. There are no mortgages on $5.4 million dollars of Edgewood Village real estate.
Greer listed about $570K in revenue generated from rental income on Edgewood Village real estate. Edgewood Village also received about $222K in grant money from private and public donors. The total annual income for Edgewood Village was about $880K. Greer is a good hustler. He managed to convince suckers to donate almost a quarter of a million dollars to this non-profit in 2013.
As far as expenses go, Edgewood Village paid out about $83K in New Haven property taxes. This is about half the tax rate of your average New Haven homeowner. Edgewood Village is a non-profit, so its tax rate is low. Edgewood Village “donated” over a quarter of a million dollars to Greer’s other non-profit entities. After paying out for taxes, upkeep, maintenance, utilities, legal fees, and “donations” to related Greer non-profits, Edgewood Village reported a $137K profit. Not a bad profit for a non-profit.
Edgewood Village listed $78K in cash on hand. That’s a lot of shekels for Greer to play with. Plus Greer received a lot of shekels from his other non-profits. Those tax returns will also be examined and posted by Larry Noodles. Stay tuned….