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August 3, 2010

Barbra Streisand Takes A $1.3 Million Bath. But Not The Good Kind Of Bath

Count Barbra Streisand among the many victims of the global financial meltdown.

Internal Revenue Service records show that the Hollywood star’s charitable foundation saw its investment portfolio take a whopping $1.3 million hit as a result of the Wall Street collapse. The Barbra Streisand Foundation disclosed its loss in IRS documents filed earlier this year (the tax return covers calendar year 2008, the most recent period for which Streisand has provided a financial accounting).

The bulk of the loss came from two equity funds, though the star’s foundation did take a $160,000 bath on Ford Motor Credit notes.

By comparison, Michael Douglas’s foundation took a minor hit. The actor’s Fund for the Future reported a $257,866 stock market loss on its tax return covering the fiscal year ending March 31, 2009.

Douglas, reprising his role as arbitrage king Gordon Gekko, is starring in the sequel to Oliver Stone’s “Wall Street,” which opens in September.

TAGS

Michael Douglas, Barbra Streisand

Comments (17)

Submitted by sara56 on Wed, 2010-08-04 18:03.
Moonbat sara56 here. I am confused. How does my posting of a Streisand quote suddenly make me a hated Obama supporter? Did you read my post? Try to understand that I am to the right, politically of Ann Coulter. When people fly into jugular extended, name calling on either side it just turns people off. Also, there are problems posting on the site. It compressed my post into a paragraph, instead of showing Streisand's name below the quote. However, I believe my post still shows I was quoting her. You also can not repost without going to another computer. You get ACCESS DENIED, I have emailed them and they say it is a problem.
Submitted by BasketballJunkie on Wed, 2010-08-04 16:18.
In my list The World's Worst People notice Babs ranking: 1. John Edwards/Keith Olbermann tie 2, Henry Waxman 3. Joe Klein 4. Barbara Streisand 5. Barbara Boxer 6. Maxine Waters 7. Achmedinijad 8. Barney Frank 9. Jefferey Dahmer 10. Charlie Rangel 11. Chris Mathews 12. Any Kennedy 13. Al Gore 14. Elizabeth Edwards 15. Joy Behar
Submitted by B17Engr on Wed, 2010-08-04 16:16.
Streisand didn't lose a cent! You lose money only when you sell the stock so you can't claim a loss on your income tax until you sell. I understand that the value of her portfolio is down, but that is not a loss yet! This article is not clear!
Submitted by TXSis on Wed, 2010-08-04 13:26.
I was surprised to learn about Babs demanding rose petals in her toilet water before using it. Just a bit unusual, if true.
Submitted by TXSis on Wed, 2010-08-04 13:20.
A quick review of the foundation's 990 seems to show total net assets or fund balances at end of 2008 at $5.7 million.........around September 2010, Guidestar will begin to publish 990's for 2009 CY.
Submitted by TXSis on Wed, 2010-08-04 13:15.
Go to Guidestar.com, sign up for a free account, then search for Barbra Streisand Foundation. Last 990 (2008) and others are free for anyone to view. Public info that includes income for the foundation, as well as grants awarded, etc.
Submitted by randall22000 on Wed, 2010-08-04 11:36.
This is great news! Maybe Babs will have to sell her limousines and Lear Jet. But, we know limousine liberals don't do that. It always comes out of someone else's pocket, and living by their rules only applies to everyone else. Just look at the Mau Mau Bama's. Burning up their carbon footprint flying around the world and partying on the tax payers money. Oh yea, I forgot, that is George Bush's fault.
Submitted by Red Ruffansore on Wed, 2010-08-04 08:17.
Sara56, you are a moonbat. Babs is a babbling idiot and your boy king DuhBama is lower than whale crap in the ratings. Try to understand, the planet hates you and your ilk and you are toast in November.
Submitted by meesha4 on Wed, 2010-08-04 14:24.
RIGHT ON, RED!!!!!
Submitted by sara56 on Wed, 2010-08-04 06:46.
Hey wavygravy: We have a president who stole the presidency through family ties, arrogance and intimidation, employing Republican operatives to exercise the tactics of voter fraud by disenfranchising thousands of blacks, elderly Jews and other minorities. Barbra Streisand All proven lies by the reasonable, open-minded, kind hearted sympathetic Ms. Streisand.
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