Non-Profits Will Now Have To Report Destination Of Expenditures $10K Or More

NEW YORK (CBSNewYork) – New York’s Attorney General has announced a new law involving political donations from non-profit groups.

AG Eric Schneiderman announced Wednesday that campaign finance reform begins now.

A law has gone into effect intended to close a large loophole which allows non-profit charitable organizations to become a source of what the attorney general called “dark money” for political campaigns.

The way the law stood, a big donor could hide his identity and pour $1 million into a candidate’s political coffers without it raising any questions.

“It’s like a person walking into a bank wearing a mask. You need to ask questions before he makes it to the teller’s window,” Schneiderman said.

Beginning Wednesday, any non-profits spending $10,000 or more must report the purpose of that spending.

Schneiderman said the “show me the money” culture in Albany has led to one scandal after another with fraud and bribery the common themes among them.

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