Huckabee discloses finances | Arkansas Blog

Wednesday, May 16, 2007

Huckabee discloses finances

Posted By on Wed, May 16, 2007 at 1:22 PM

As a presidential candidate, Mike Huckabee has to make a personal financial disclosure with the Federal Election Commission. He looks prosperous by Arkansas standards, though don't forget he has a note of more than $300,000 on his new home in North Little Rock. (The report lists no major liabilities for Huckabee, but mortgages are excluded from this category.)

His report shows this disclosure for 2006 and 2007 through his May 13 filing (in all, at least $350,000 in income during the period):

Honoraria: $138,500 for 15 speeches -- to Jerry Falwell's Liberty University ($500) and to his Thomas Road Baptist Church ($2,500); Cooper Institute ($2,500) Prestonwood Baptist Church ($1,500), pastored by Southern Baptist Convention president Jack Graham; the Ankeny (Iowa) Free Church ($1,500); Novo Nordisk ($17,500 TWICE), Grantmakers in Health ($4,000), Urban League of Cities and Towns ($10,000); California Association of Health Plans ($17,000); Washington Policy Center ($10,000); Public Health Institute ($13,000); Castle Partners ($15,000); Institute for Health Productivity ($13,000); Washington University ($13,000)

Other income: $74,146 pay as governor last year; $14,101 from a state pension; $40,000 from 12 Stops Inc., the company he set up to market his book (and see later note, to serve as a conduit for his speaking fees); $161,889 in book sales and royalties; $40,000 for consulting work for the National Association of Music Manufacturers. (Remember his program to put more musical instruments in the hands of young people? A good idea, we always thought, and we weren't even thinking of the obvious business benefits.)

The report notes his wife Janet receives a salary from the American Red Cross, but does not list an amount.

Assets: He and his wife reported bank accounts, stock, a retirement account and similar assets worth between roughly $400,000 and $1 million. Biggest holdings: Procter and Gamble stock and a Southern Baptist Convention annuity, each worth $100,000 to $250,000. His assets produced between roughly $10,000 and $27,0000 in income during the time period. He also reported $9,657 income from his minority ownership percentage in Troufion Radio Network, a seller of syndicated programming set up years ago by ad man Gary Heathcott.

Other stuff:  Remember that Hope for America PAC fund-raiser in December? His PAC bought $7,770 worth of books from himself for the event. He also reports selling $4,070 worth at the Crystal Cathedral in California. Only $700 worth at Coral Ridge Presbyterian Church.

This, by the way, is a great deal more disclosure than what Arkansas law requires. It is also no less than Arkansas should require of public officials.

UPDATE: Somebody asked. About $50,000 in honoraria came for speeches Huckabee made while governor. None is disclosed specifically on his final statement of financial interest, filed at the end of January. But he did report income of more than $12,500 from 12 Stops, the corporate entity through which that money was laundered. As a matter of policy, Arkansas taxpayers ought to know what groups are paying their politicians to make appearances. This is a replay of Huckabee's old Action America gimmick, in which he rounded up speaking fees hidden in that shell operation. 

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