Monday, May 7, 2018

CFGJ: No connection to Madison Timber

The Community Foundation of Greater Jackson stated in an email to this website that a $2.3 million timber "investment" on its 2015 990 was a donation of an interest in timberland in Alabama. The email states:


The Community Foundation does not own and has never owned any investments in Madison Timber Properties or any timber companies marketed by Lamar Adams.

1. In December 2015 a donor gave to the Community Foundation of Greater Jackson (CFGJ) an interest in timberland located in Alabama valued at $2.3 million, as the initial gift to open a donor-advised fund at CFGJ. This gift was a direct interest in a timberland lease, not an investment in or a loan to an LLC. CFGJ's timberland investment is in no way related to Madison Timber LLC or any other companies marketed by Lamar Adams.

CFGJ formed a single member LLC in which to hold this timber investment, as is the usual procedure for community foundations when holding gifts of interests in real property such as a timber lease.

2. The increases in CFGJ's assets and contribution receivable during the fiscal year ended 3-31-16 are related to a bequest of cash from the estate of a long-time donor. This $9 million bequest was the largest gift ever received by CFGJ in its 24 year history. This extraordinary gift skewed the financial statements of the year ended 3-31-16 in a positive way when compared to prior years.

CFGJ began receiving distributions from the estate in satisfaction of this bequest by year end 3-31-16, but distributions continued to CFGJ until the estate was closed in December 2016. At year end 3-31-16, CFGJ correctly estimated and accrued the balance of the expected bequest.

JJ would like to thank the Foundation for clarifying this information.  No one has an ax to grind against the Foundation.  The 990's show that it is not wasting money on salaries with only a pittance left for actual donations.  The Lamar Adams story is a huge and fast-breaking as this website and others are trying to expose the many strands in that web created by Adams and his cronies.

Due to the high-profile nature of the players involved in this scandal, more than a few people have made it their business to study the tax returns of the Foundation and raised a few questions on social media and this website.
The Executive Director is the wife of an alleged promoter of the timber ponzi scheme that dominated the news last week, hence the interest. Some of those questions were deemed to be worthy of asking and thus there was this morning's post.  Better to get it out there as well as the explanation for it for everyone to see than to allow it to fester and corrode.   Once again, JJ thanks the Foundation for its response. 

50 comments:

Anonymous said...

Now a little proof for that story? When trust is gone, words mean nothing.

Anonymous said...

This gift was a direct interest in a timberland lease

Call me skeptical. And call me a firm believer in the power of things not merely being coincidental.

A donor gave an interest in a lease to timber... not land... but the ownership of timber to sell, which is directly relative to the "business model" that is at issue.

I hope their statement that their "investment is in no way related to Madison Timber" and/or Adams rings true and are not caught in any of this.

But, I hope the Board recognizes the coincidence

Barry Kirpke said...

This thing is to complex for me to get my mind around.

Anonymous said...

AGAIN...PROUD OF YOURSELF ASSHOLE?

Anonymous said...

So.....what's the current value of this lease?

Anonymous said...

8:01 pipe down. I literally researched everyone on the board (I’m the one that made the list on the other post), and came up with this on one of their members—

https://www.molpus.com/about-us/our-people/jamie-houston.html

They have the good Ttimber rights, and yes people do buy and sell them all of the time.

But if the board can’t understand after going through thousands of documents in less than a week and one sees “timber rights” and COULD EASILY CONFUSE THAT with all of the other crap, then they can kiss my ass.

@7:53 they have or rather had “real timber” whereas the ponzi barely had any timber at all.

I still wonder how it is that you just so happened to get an estate gift of timberland rights from a donor with someone who sells timberland on your board, but that is not the issue at hand.

Anonymous said...

Swing and a miss.

Not the first time.

Anonymous said...

So the story turned out not to be what it seemed it was. At least KF is doing investigative reporting, something any of the so called reporters/journalists at the local paper and TV stations don't seem to know how to do. Bigger than that is the fact that he set the record straight when other facts were revealed and didn't just disappear into the woodwork. @8:37, do you bat 1.000? I doubt it.

Keep up the good work KF!

Anonymous said...

Glad to hear it. I've always liked Jane Alexander.

Anonymous said...

“In a conspiracy like this, you build from the outer edges and go step by step. If you shoot too high and miss, everybody feels more secure. You've put the investigation back months.”

Anonymous said...

Thanks, KF, for being the ONE reporter in MS that exposes the craziness.

Anonymous said...

The post at 9:55 and whoever is being quoted, make no sense. The post is composed of three sentences, all ending with a period, several containing phrases, none making one iota of sense.

Anonymous said...

You can bet your sweet ass this 'timber gift' was related. What it did was set up a legitimate parcel of timber land to be used as proof that physical timber land did exist, just in case proof were needed.

"You don't really have any actual timber land do you?"
"Sure I do. Look, here for example, over in Alabama...."

Anonymous said...

KF-thank you for clarifying. This is just ANOTHER example of how the readers of this blog take a nugget of information and draw a definitive conclusion. Most readers are speculating in the absence of any facts. I’m not an Alexander, a Seawright, or anyone involved in this crap. I’m just a reader who likes to believe in the concept of innocent until proven guilty and am sick of all the posters who are nothing more than evil-spirited theorists.

Anonymous said...

Who does the appraisal for assigning the value of timber rights? How many acres was this gift? The valuation of an independent appraiser would provide a range of value.

Anonymous said...

KF did his job. He reported information, which in all likelihood, was already researched by authorities. If anyone thinks feds aren't looking into connections then you are wrong. And this IS a connection. If you think KF was the only one asking this question then you are wrong. With fake media falling down on their job, this kind of reporting is necessary. I don't trust newspapers, news stations, whether liberal or conservative. This type of reporting is unfortunately the new norm. The process worked, whether we like it or not.

What we haven't seen is a similar release by Lord Snow or BD.

Anonymous said...

Here’s food for thought, if you’re a journalist, why don’t you avoid the confusion and ask for a comment before you publish.

People were journalists long before the Internet. There’s a trade and true pattern to follow to make sure the most accurate story gets out.

Anonymous said...

Amen 11:11. Amen. You said it best in your last few words: "evil-spirited theorists". That is why this vulgar blog exists....to feed them.

The Spreading Utensil said...

Are journalists licensed? NOPE.

How many tests do you have to take to become a "journalist"? ZERO

"Most accurate"? LOL

Anonymous said...

May 8, 2018 at 7:16 AM = Closet vulgarity lover and loyal JJ reader!

Anonymous said...

Anderson Tully sold a lot of land about 15 years ago but kept
the timber rights for an extended time period.
Those timber rights can be sold or donated to another party if ATCO
chose to do so.

Anonymous said...

8:36- that is not the Jamie Houston who is on the board. The Jamie Houston who is on the board is a tax attorney.

Anonymous said...

regardless, KF is the only journalist in the freaking history of mississippi who has the guts to tell the truth about about the political buffoons that run this state and the plantation aristocracy that functions as the shadow government.

Anonymous said...

"Plantation ARISTOCRACY?!" Please. These folks are white trash with ill-gotten money.

Very few people with either "old money" or more than a generation or two of breeding would get near this kind of sleaze or these kinds of sleazebags. The problem is, of course, that there are very few people with either old money or more than a generation or two of breeding.

Compare, for example, Walker Percy versus Brent Alexander, both known for the creation and promotion of fictions, and yet, the former a respected man during his lifetime and well after his death and the latter, not ever, even during his lifetime. And for those who would say, "Well, before he got caught...," you confuse jealousy by "wannabes" with respect from "ares."

Anonymous said...

8:37 if you want a swing and miss that would be Donner's reckless smear of Wayne Parish, not this story. No journo in the metro hits for the cycle more frequently than Kingfish.

Anonymous said...

KF I want to hear more about Mike Bilings and Wayne Kelly.
A blogger last week noted that the vast majority of the Madison Timber was sold through these guys, working for Butler Snow.

There has to be a scoop there. Or the walls of the castle too tall around Lord Snow?

Anonymous said...

9:55 is quoting All the President's Men. Very apt indeed.

Anonymous said...

Kingfish did not approve my Bill Clinton "sexual relations" quote, but the point is, people lie. They lie even when caught.

I have no proof that there are any lies, but the whole smoke/fire thing applies

Anonymous said...

So...why does Kingfish refuse to post my comments claiming the 'gifted timber' was indeed related to the crimes at hand? Is it because it's not HIS theory or because it's likely the truth.

And while outlandish theories regarding connections within Butler Snow are welcomed (and encouraged), we're not allowed to claim a connection between this criminal mind and his wife who runs a charity? I see....

Anonymous said...

To 10:40

Mike Billings worked for Butler Snow. I don't think Wayne Kelly. He worked for Lamar.

Anonymous said...

11:23, maybe, just maybe, its because your theory has nothing to back it up - except, of course, your twisted mind. As I see it, KF posted a story about the charity, and allowed many comments. And the charity responded with details explaining that the connection did not exist. Since then, comments have continued but you - you and your extraordinary mind - have determined that your theory that there is a connection should stand premiere, atop all else, and that we should kneel at your alter because - wait, hold it, just hold on - because you have a theory (without any backup knowledge or facts) that refutes the comments from GJF. They, by the way, put out a statement under their name and signed. You, on the other hand, want us all to accept your anonymous theory as to be fact just because under cover of anonymous comments you tell us it is so.

Bring forth facts to dispute the foundation's response, sign your name, and then I'll be glad to listen. In the meantime, take it and shove it.

Anonymous said...

Mike Billings has condos in Dallas and La Jolla. She is quite the jet setter.

Madison Rulz said...

Kingfish didn't approve my comment that the real name of the company was Jackson Timber. There are no criminals in Madison.

The Outer Edges said...

Ya see, the thing about names and computer systems that track financial information, or most systems for that matter is that if a person purposely gives you the wrong name, an alias or "I go by" name, there won't be a hit when you try to find them in your system of its a repeat customer that went bad. The really good little fraudsters will give you one number off on their ss#. If that's done, a hit won't come up either----not on the system I was accustomed to. You'd have to go an pull the application file if the system didn't store it. So, what happens after you experience this so many times and loose money, is that you start your own little P.I.. operation just to make sure you have a better chance of collecting money you loaned out, legally of course.

I'm quite sure the same issue comes up in the legal world. In the professional world and the world of advertising, the tax attorney is known by Jamie G. Houston, III. on the form 990, it's just Jamie Houston---quite a common repeat name, hence the confusion. As a matter of fact Jamie Houston pops up as an entertainment personality.

The same discrepancy occurs with Judy---her legal name is Judith, as she's Jewish. But on the form 990, her name is Judy--- an "I go by" name, not a legal name, unless she went through the process of legally changing it because she is a lawyer.

So, you have a litany of name discrepancies (of lawyers, no less) on the form 990, whose legal names are connected to both their social security numbers AND/OR E.I.N. numbers for taxation purposes, but no truly & legally accurate legal names are given for several board members on the form 990.

With all of the registered C.P.A.'s on that board, it really makes you start to wonder who did their taxes. Also makes you wonder why at least two lawyers would do such a thing and never correct it, knowing the possible implications of aforementioned discrepancies.

These little tidbits (and more) are things you tend to learn in the real world after you've lost $$$$ in the private sector. They aren't theories, they really happen until you learn from your mistakes.

Anonymous said...

I know that a lot of people who post on this blog have their stinger out for Butler Snow. And I have no vested interest in that firm, nor do I do business with them. Frankly, I myself find their arrogance off-putting.

All of that being said, I have seen nothing presented either in public documents or on any of these posts that connects Butler Snow to this scam. This Mike Billings character worked for Butler Snow for a relatively short period of time. Kingfish posted the press release announcing Billings' affiliation with Butler Snow Advisory as of April 2012. Anyone who has kept up at all with BS Advisory knows that it has been a bit of a revolving door. And, true to form, based on my research using www.archive.org, Billings was gone from BS Advisory by October 2014.

If Billings was promoting this timber scheme while he was affiliated with Butler Snow from April 2012 through sometime prior to October 2014, then Butler Snow is as culpable as Baker Donelson. But outside of those facts, I don't see how anyone can accuse Butler Snow of any wrongdoing.

Anonymous said...

11:46 wrote, "Mike Billings has condos in Dallas and La Jolla."

And not one in or near Destin? Must be in the name of some LLC or something. You just ain't no high-stepper in Mississippi scammery if you don't have one. The first thing these Mississippi scammers buy is a ridiculously and conspicuously inappropriate vehicle and the second, garish condos (see Chris Epps, etc) decorated with only the most overpriced pieces from Target's Kardashian Collection. The Feds could do a title search of Destin condos and fill up the prison at Eglin...at least twice...and that's just with crooks from Mississippi. On a perhaps unrelated note, the Mississippi Bar holds its annual convention at Sandestin.

Anonymous said...

No way if true Billings bought, furnished, maintained, traveled to and from condos in those places from this scam....what are his other businesses current and past?

Anonymous said...

Billings has a high end jewelry biz too. Selling diamonds to unsuspecting clients

Anonymous said...

11:57, a 990 does not require that the voluntary board members of an organization be listed by their absolute legal complete and full name. You and your b/s just doesn't fly here - check the form and come back again where it details how to fill out that particular section, where it requires the individual's full, complete, given and married (if appropriate) name. It aint there. The listing of those names is generally done by the name the individuals go by and sign legal documents (i.e. middle initials are ok, don't require middle name being spelled out.) If a baby is named James at birth, but professionally goes by Jamie - to use your example, then Jamie is an acceptable name on the form. Its not an attempt to deceive, although for people that live in your strange (form your own PI operation) world, I'm sure you think anybody and everybody that does or accomplishes anything is deceitful.

Anonymous said...

Geez!! Give it a rest about the board of directors for the CFGJ! These people are volunteering their time to serve on the board of directors of a legitimate non-profit foundation that has been around for over 20 years. There is nothing suspicious or sinister about this. Whether the Jamie Houston listed as a director is a senior tax partner at Watkins & Eager or a staff guy with Dick Molpus' timber fund has nothing to do with the Lamar Adams Ponzi scheme.

This thread is dead. Kingfish did some research, identified some information that looked like it might have connected the CFGJ with the Adams' scheme and put it out there. I have no issue with that. The facts would lead any reasonable person to ask questions. CFGJ has publicly denied any connection, so until and unless Adams or someone else names the foundation as a victim or accomplice or anything else, nothing about the CFGJ or its board members is relevant to this topic.

1:30 said...

2:37 thank you. Better said than my attempt earlier at 1:30. There is apparently no connection with the non-profit other than Jane Alexander works there as ED. The board members have nothing to do with this scam, unless any one of them made the mistake of investing their own money.

Someone donated a large sum of money and assets to the foundation including ACTUAL timber rights - not fictitious deeds. Drop all this conspiracy and attempt to connect dots when the dots don't even exist. Go back to the actual story and figure out who all did Adams screw, and when did he screw them. Also, who else was involved in the screwing process.

Can't Contradict The Kingfish... said...

Kingfish: Thank you for your anonymous post at 11:45. But, what you fail to realize is you're not the only one who has a theory and you're not, alone, able to connect dots. You should welcome others who have input, even when you don't agree with their theory.

You were also shit-can-wrong about the child who got offed at Kroger and never admitted that either. Chill and allow responders to voice opinions.

"I never post as anonymous, asshole!" in 3...2...1...

Inquiring minds want to know said...

The well crafted press release fails to disavow any connection or dealings with Alexander Seawright Timber Fund I LLC. This fund would be the most likely vehicle.

Anonymous said...

One theory is just as good as another. Everybody thinks everybody else's theory is outlandish and only theirs holds water. Meanwhile, almost every post on these six threads is speculation. And 90% of you seem to want one or both law firms to fail and go belly up. Seems to be almost orgasmic with this crowd, including the moderator.

Oh.....and, yes....the woman is not involved because she said she's not involved. And since she claims to not be involved, it's not relevant. Gotcha! FBI training 101.

Anonymous said...

to 9 :40AM...... WOW , seems you about jumped out of your skin at he mention of the plantation aristocracy. i never said that flim- flammer adams was a member of it. maybe you are a member of the plantation aristocracy, or a serious wannabe , hence your less that articulate response. make no mistake about it little squire, this state is run by political buffoons and about a dozen families who sit back and watch the rest of us work.

Anonymous said...

this is something everybody needs to understand about a con artist like adams. i been practicing criminal law for 30 years and ive seen alot of criminals come and go. thieves, burglars, moonshine cookers, dope dealers, untaxed whiskey peddlers and even violent criminals can , from time to time ,reform themselves and as they say, go straight. A CON ARTIST is UNREFORMABLE. they can never go straight , no matter how long you lock em up for. the con follows them every where they go and its ingrained in their DNA. they never quit conning people until they drop dead. think about that the next time you see a judge handing out a minimum sentance for a fraudster, and saying " oh , this was a non-violent crime". the second a flim-flammer is released he will go right back to his old tricks.

Anonymous said...

601, wrong again. A few months ago you made accusation that a post was made by KF, just like you did today. You were wrong then, it was me. And amazingly, 1145 was me as well. Maybe I should be upset that you either lower my intelligence level to that if KF, or he should appreciate your raising him to my level.

But I can assure you, that post was not KF. I did it all by my little bitty self. And I still believe that your crap if trying to make connections where none exist show you to have some real serious conspiracy webs tangled in your otherwise empty head.

Anonymous said...

Counselor at 7:35....saw where David Watkins with his con game is getting off by going to classes like getting a speeding ticket reduced. Maybe Lamar can enroll in those classes.....

Anonymous said...

8:58 - How is it that you manage to know who posts what and when and which posts are made by certain others? Axing for a frand. Thanks.

8:58 said...

6:06 - because, like I said, I made those posts. Not KF, as accused. If I made the original comment, I can state that KF did not make it. Simple enough? Hopefully your friend will be able to understand.

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