King son's firm paid $1.3 million by center | ajc.com

King son's firm paid $1.3 million by center | ajc.com: "King son's firm paid $1.3 million by center

By ERNIE SUGGS
The Atlanta Journal-Constitution
Published on: 05/20/05
The nonprofit Martin Luther King Jr. Center paid nearly $1.3 million last year to a for-profit business run by King's younger son, according to tax records released this week.
The payments to Intellectual Properties Management Inc. amounted to 43 percent of all the King Center's spending for the fiscal year that ended in June 2004, according to the center's latest tax return. Since July 2000, the center has reported paying $4.2 million to the company, a practice criticized by charity watchdog groups.
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IPM also gave the King Center $77,550, its largest single donation last year, according to a list of financial contributions attached to the tax form. There was no explanation of the gift."