NAN Reports an Increase in Support in 2018 and a Strong Financial Forecast for 2019—
NAN reports an increase in financial support in 2018 & a strong financial forecast for 2019 after a successful birthday fundraiser which generated a significant return on NAN purchase Of Rev. Sharpton life story rights
Friday, November 15, 2019 (New York, NY) — National Acton Network (NAN) is reporting that donations in 2018 increased by approximately a million dollars from 2017, helping the organization to expand programmatic initiatives in technology and voter engagement, while also boosting NAN staffing across the country.
NAN Board of Directors retained an outside Executive Compensation Firm to review, formalize and resolve any outstanding financial compensation owed to NAN President and Founder Rev. Al Sharpton. This was important to the organization’s leadership insistence on keeping Rev. Sharpton at the helm of the organization for at least another three years.
NAN’s Board Compensation Committee reviewed the recommendations of the Compensation Firm and decided to resolve all back pay issues regarding Rev. Sharpton for the years from 2004-2017, including monies owed for salary and bonuses. This amount totaled $1.252 million. However, Rev. Sharpton formally agreed to accept $500,000 less than the aforementioned amount and he and the Board agree that he has now been fully compensated for all the years he was underpaid and received no bonus.
The Board is also pleased to announce that in the year 2019, due to the exercise of the purchase of the rights to Rev. Sharpton’s life story, the benefits from his 65th birthday party in October at The New York Public Library hosted by Samuel Jackson and Spike Lee, will go towards the National Action Network as opposed to civil rights museum he is seeking to building in Harlem, New York.
Finally, the revenue from Rev. Sharpton’s birthday has already generated hundreds of thousands of dollars for NAN, and when a final tally is made, the Board is confident it will exceed in one-year what they put up for his life rights in ten-years. This doesn’t include the revenue they will get for use of his historic photo archives and other items for a documentary, as well as commitments for a one-person play and more.