In another sign of the tough times in Washington these days, the White House Gift Shop, long run by a nonprofit group that helps uniformed Secret Service officers and their families, has gone broke.
The Secret Service Uniformed Division Benefit Fund, which traces its roots to the 1940s and for years did business as the official White House Gift Shop, lists more than $600,000 in liabilities in a pending bankruptcy petition in Washington.
The fund — which operated independently of the White House and Secret Service, and was not a part of the government — disclosed tens of thousands of dollars in assets consisting mostly of Christmas decorations, as well as such trinkets as magnets, puzzles and paperweights, many valued at just a few dollars each.
The price of more than 140 Democratic and Republican mouse pads is listed as “???” in court records, while 10 unsold copies of the book “Adams’ Alligator” go for $8.48.
The bankruptcy petition, filed in June in a case that remains active, doesn’t explain why the fund went bankrupt in the first place, but court records reveal a recent history of tax troubles and litigation.
President Barack Obama shows military officials the White House Christmas Tree in ...more >
A trustee appointed in the case, Wendell Webster, said in a phone interview Thursday that he is trying to market and sell what assets remain, including a Cal Ripken Jr. commemorative plaque that the fund priced at $500 in bankruptcy papers.
The fund, billing itself as the official White House Gift Shop, operated a retail outlet in the Eisenhower Executive Office Building before moving into National Press Club, which the fund has since vacated.
Via: Washington Times
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