Victory

Stop Tax-Payer Money From Going To Governor Snyder's Non-Profit SPARK, As It Runs A For-Profit Venture Capital Fund For Wealthy Investors

This petition made change with 26 supporters!


Governor Snyder founded a non-profit known as SPARK.  SPARK receives tax money from the state, some counties and from cities in Michigan.  This money pays their salaries and other expenses.  This non-profit also receives tax money for a for-profit Venture Capital fund known as the Michigan Angel Fund.  "The Michigan Angel Fund (MAF) is a for-profit pooled professionally managed angel fund. MAF was established by Ann Arbor SPARK and funded by the Michigan Economic Development Corporation.".  The fund is open to high net worth investors.  “The whole idea behind the Michigan Angel Fund is to allow qualified investors to participate".  SPARK is tax exempt, but this non-profit runs a for-profit fund for wealthy investors.  Other non-profits such as TIAA-CREF have funds, but TIAA-CREF is not tax exempt.

I'm asking people to support the petition and ask elected officials not to send tax-payer money to SPARK, because tax-payer money is being sent to this tax-exempt non-profit and they're running a for-profit fund for wealthy investors. 

Tax-payer money should not be sent to non-profits that are tax-exempt and run for-profit funds.

To read more about how they use inflated data to seek public money:

http://www.forbes.com/sites/kaipetainen/2014/07/02/michigan-governors-non-profit-uses-inflated-job-numbers-while-seeking-public-money/

To read more about how they refused to release audited finacial statements:

http://www.forbes.com/sites/kaipetainen/2013/11/09/non-profit-venture-capital-firm-refuses-to-release-audited-financial-statements-before-governor-snyders-nerd-fund-there-was-spark/



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