|"Shady the Younger" "Shady the Elder"|
"Follow the money..."
Provided below in the tables below is "data dump" that further exposes Michael Arlen Davis' charitable grant making activities to scrutiny. The data presented was sourced from IRS Form 990 filings filed by MAD/RSF for their various nonprofit entities.
The corrupting influence (potentially) of Davis' "charity, particulary on the corporate governance, board ethics, and ultimately the overall performance of publicly traded Cyanotech, should be readily apparent to a reasonable, and non-conflicted person.
The tables below reveal a large number of related party transactions within the web of MAD and RSF controlled private nonprofit foundations.
Is there any credible evidence of a legitimate public benefit being served by the multiple MAD/RSF nonprofits that justifies their tax exempt status?
Readers are encouraged to review the data provided in detail, and to form their own conclusions.
Tip: Click on the tables below for larger, and much more readable images.
I. Entities controlled by MAD/RSF and their relevant tax id #s
Here is a link for readers interested reviewing historic IRS form 990 filings for the various MAD/RSF nonprofit entities--ProPublica Nonprofit Explorer-- Tip: put the relevant EIN # (see table above) into the advanced search feature for best results.
II. Summary of Davis/Skywords charitable grants paid during 2003-2014
Davis/Skywords Foundation reported total charitable grants of $19.171 million during the 2003-2014 period. The table below shows that 93.4% ($17.903m) of the $19.171m total went to entities either controlled by, or related to, Davis/RSF.
III. Click on table below to see a larger, more readable, and more detailed study of Michael A. Davis' charitable grant making activities during 2003-2014.
The information highlighted in the Skywords spreadsheet below are Davis' charitable grants related to his rapid and undisclosed accumulation of public Cyanotech shares during 2010-2011, and the subsequent stock "parking" scheme with his RSF partners.
What seems obvious to a reasonable person is that Davis' unusually large grants to RSF during 2010 and 2011 were highly unusual. They do not look like "normal course of business" transactions.
Note that the Davis' charitable grants made to RSF during 2010-2011 were also larger than reported by Davis in his Skywords IRS 990 filings for 2010 and 2011. That is because an additional $900k worth of Cyanotech shares were also granted by Davis to RSF during 2010-2011, probably from another Davis entity. (fyi, the Davis' Cyan stock grants to RSF during 2010 and 2011 were discovered in RSF's IRS 990 filings)
IV. Analysis of Davis/Skywords grants paid during 2003-2014
The highlighted portion in the table below shows that during the years 2008, 2009, 2010, 2011, 2013, and 2014 that at least 96% of all charitable grants reported by Davis' Skywords Family Foundation to the IRS went to entities controlled and/or related to MAD/RSF.
V. Charitable grants received by Yggdrasil Land Foundation during 2000-2013
Click on the table below and notice the three highlighted areas. From the top down these are:
1. $1.465 million land acquisition in late 2013 that was discovered in a line item in Yggdrasil's 2013 IRS 990, with no other disclosure provided. In early 2014 Davis made his largest ever "charitable" cash infusion into his Ginungagap Foundation, the nonprofit shell entity through which Davis funds Filigreen Farm. A reasonable person would believe the large Yggdrasil land acquisiton in late 2013, and Davis/Skywords' large charitable grant to Yggdrasil in early 2014 are linked.
2. 30 yr lease agreement signed between Yggdrasil and Filigreen/Davis in late 2004, apparently for a below market lease rate of $15k per year.
3. Yggdrasil retained "Land and Place" during 2011 to renovate Filigreen Farm. On information and belief, "Land and Place" is a joint venture between Davis and Christopher Tebbut, Filigreen Farm's manager of operations, and resident caretaker. Tebbut was reported by Davis/Skywords to the IRS as a 40 hour per week "manager" employed by Skywords during 2013 and 2014. Davis paid Tebbut $53k during 2013, and $60k during 2014.
VI. Ginungagap Foundation 2003 -2014
The highlights in the table below confirms the sharp increase in charitable grant money Davis/Skywords reported pumping into Ginungagap during 2013 and 2014. A reasonable person would view this sharp increase in tax-exempt cash funding as related to Yggdrasil's large "secret" land acquisition, discovered as an IRS 990 line item.