America's North Shore Journal

Surprise! The AP seems to have gotten its story about Army Emergency Relief a little wrong. John of Argghhh: Just where did Donn get his information? We really don’t know. Col. Cohen isn’t exactly sure, and neither are his counterparts at other military charities. The AP article says that they analyzed the tax records of the AER, but if they were doing such a great job, how did they miss the following: During the period in question ( ’03-07), the AER distributed $250 MILLION in financial assistance Outstanding loan balances are considered an asset of the trust, even though the money is actually not in their possession. Much like a 401(k) plan, outstanding loan balances are included in the total assets, as if they money was still there, because it’s … Read entire article »