Carton Does Charity Incorrectly
As if suspended WFAN/New York morning co-host Craig Carton was in enough trouble, what with those pending federal charges of allegedly masterminding a multi-million dollar Ponzi scheme, The New York Post reports that Carton’s four-year-old Tourette syndrome charity has apparently done little more than hold fundraising events to keep itself afloat, doling out zero cash for research or treatment of the disorder — but appears to have given him connections to exploit for an alleged $5.6 million Ponzi scheme.
IRS records show Carton’s Tic Toc Stop nonprofit, which he founded in 2013 to “fight against Tourette Syndrome” (he and two of his four children are afflicted with the disorder) has raised more than $1 million, but none of that money has apparently been used for research — rather, nearly all the cash raised has been spent on golf outings, galas and other high-profile fundraising events.
In its IRS filings, Tic Top Stop lists two unexplained “contributions” totaling $103,390 made in 2013-2014. As The Post theorizes, “Even if that entire amount went to treatment or research, that would account for less than 10 percent of what the charity has taken in.” Katie Rusnock, an expert with the Charity Navigator watchdog group said the lack of any “program expenses” in its most recent, 2015 filing raised a “major red flag.” She added, “We rarely ever see organizations report zero for program expenses. We occasionally see low ratios, but this is definitely far outside the norm.”
Earlier this year, Tic Top Stop’s fourth annual celebrity golf outing was co-chaired by board member Doug Pardon, whom The Post has identified as the “hedge fund partner” Carton had targeted to allegedly scam $4.6 million from Brigade Capital Management. Carton and two alleged accomplices are accused of creating a sham ticket-reselling operation to defraud the fund and an unidentified “individual investor” to help Carton pay off around $3 million in gambling debts.
