Corzine’s foundation seeks extension on tax return filing

The Jon S. Corzine Foundation, formed by Gov. Jon Corzine as his philanthropic outlet, has asked the Internal Revenue Service for an extension. That allows them to avoid filing a tax return until after the election. In the past, political rivals have accused Corzine of using the foundation to bolster his political career.

During his 2000 U.S. Senate campaign, Corzine avoided questions about his foundation until political pressure forced him to reveal his contributions. The foundation had donated more than $250,000 to future supporters, including Rev. Reginald Jackson’s church, Stephen Adubato’s North Ward Cultural Center, Rev. Jesse Jackson’s Operation Rainbow/PUSH, and Planned Parenthood. All helped him secure the Democratic nomination in a heated primary with former Gov. Jim Florio.

According to published reports, the foundation contributed over $3.5 million to charity in 2007, including large contributions to African American churches in Newark and Camden. Corzine has also forgiven a $50,000 personal loan to Reginald Jackson, the Executive Director of the New Jersey Council of Black Ministers. Jackson endorsed Corzine this week.

Last year, the New York University Child Study Center had to give up a $2 million state contract after it was disclosed that the Corzine foundation had given them $350,000.

Corzine’s foundation seeks extension on tax return filing