Economic Diversity In Action

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A prominent diversity, equity, and inclusion nonprofit declared bankruptcy this month after its board accused its founder and top employees of stealing millions of dollars, a Daily Wire investigation found. Bill Clinton and Oprah Winfrey are set to keynote a conference run by the alleged thief, apparently through his for-profit firm, next month.

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The group’s 2020 IRS disclosure said Kennedy was paid $450,000 for 10 hours of work per week. In 2022, at the height of corporations’ DEI hype, Kennedy, chief executive officer Ángeles Valenciano, and chief financial officer Jason deGroot also “unilaterally decided that they were owed almost $3 million in ‘back pay,’ and then paid themselves more than $1 million of donor funds,” the lawsuit said.

As board members became suspicious and determined that there was no basis for the payments, Kennedy systematically moved the nonprofit’s trademarks and web domains into his own name, and essentially created a fake organization with the same name that would trick people into paying him directly, the suit indicated.

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In addition to the for-profit D&L Inc., Kennedy ran two Texas-based nonprofits, the Texas Diversity Council and the California Diversity Council, which were used to double-dip on salaries for the trio and siphon off consulting revenue from NDC, while using NDC staff and resources for all the groups’ expenses, the lawsuit said.

According to tax disclosures, in 2021 Kennedy was paid $787,000 in salary by the national nonprofit and $351,113 from the Texas one; Valenciano was paid $460,000 from NDC and $133,000 from Texas; and deGroot was paid $460,000 from national and $123,000 from Texas. The IRS filings claim Valenciano and deGroot worked 40 hours a week for the Texas nonprofit while also working 35 hours a week for the national nonprofit. They also claim Kennedy worked 40 hours a week for the Texas nonprofit, which would leave little time for his many for-profit ventures or the national nonprofit.

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The fake NDC website says “The National Diversity & Leadership Conference celebrates its 25th year as one of the largest and most prestigious events dedicated to promoting diversity, equity, and inclusion in the workplace and beyond. This year’s conference will feature an inspiring keynote address by Oprah Winfrey.” The conference site says that Bill Clinton, former Secretary of Housing and Urban Development Julian Castro, and left-wing professor Cornel West will also keynote. Conference-goers can meet them for $4,999.

In 2024, in what was advertised as the conference’s 21st year, Hillary Clinton, Magic Johnson, Castro, and Eric Holder spoke. For $8,900, participants could “take photos with each keynote speaker listed on the Speakers page except for Hillary Clinton.”

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