As much as I can't stand the SPLC, I'm not sure about the "hiding money offshore" accusation. It sounds like they are simply investing surplus money in hedge funds that are organized in the Caymans. Those hedge funds should still show up as an investment on the asset side of SPLC's balance sheet: reported cash goes down while reported investments go up. So, unless they're engaging in fraudulent accounting, I don't see what the issue is. There is nothing illegal per se about a tax-exempt entity investing in an offshore vehicle, and many do so to avoid taxation on unrelated business taxable income. But, I might be missing something.
