From the New York Times:
Since City Councilman Larry B. Seabrook and two associates incorporated it as a nonprofit organization some 10 years ago, the African-American Bronx Unity Day Parade has left the lightest of footprints.
It has never received I.R.S. approval to actually operate as a nonprofit. It has never filed a tax return. And, it seems, it has never run a parade.
But in recent years it has netted more than $100,000 in city money by leasing space at one price from Bronx landlords and then subleasing it at a far higher price to three nonprofit groups whose rents were later reimbursed by the city, according to public records and interviews.