Drummond Pike and john powell Respond to Recent Article

September 3, 2008

Statement from Tides CEO Drummond Pike

Returning from a two week vacation, I have learned that the New York Times reported that I am the anonymous person who purchased from ACORN the collectable debt that was restitution for a terrible misappropriation of funds eight years ago. The story is true.

Completely independent of Tides, I engaged in this purchase personally in order to assist the incoming leadership of ACORN as they work with funders and others to improve their governance and financial practices. ACORN is now financially whole and able to move forward. Any risk of non-payment of the obligation is now mine to bear.

My desire to keep this confidential was solely to keep my employer, Tides, out of any conversation or news reporting about the ACORN matter. The Tides Board was informed about this matter before the New York Times article appeared.

Sincerely,
Drummond Pike
CEO, Tides

Statement from Tides Board Chair john powell

As a public charity Tides is built on the trust of partners like you, and continues to be as we work to promote positive change towards a healthy and just society. A recent New York Times story stated Tides CEO Drummond Pike personally purchased the promissory note held by ACORN and that Tides was not involved. The story was accurate: Tides funds were not – nor would ever be – used for this purpose; and, Pike informed members of the Tides board of this personal financial activity.

Sincerely,
john powell
Tides Board Chair