It is a violation of federal law to use funds accounted for as "charitable" for partisan purposes.
Below the fold is an excerpt from a story in today's Bryan-College Station Eagle (Bryan/CS is the home of Texas A&M University) on a speech given by House Speaker Dennis Hastert at the Bush Presidential Library, underwritten by Bank of America.
Those of you familiar with the IRS strong-arming of anti-war Reverend Regas and strong-arming of the NAACP will no doubt be aghast at the timidity of Regas' and Julian Bond's remarks in comparison with Hastert's below.
It is almost certain Bank of America described its funding of the "Program for Volunteerism" as charitable in nature and not partisan. It is thus almost certain Bank of America did not pay taxes on these funds.
Excerpts below (the full story of Craig Kapitan linked to above has much more):
Republicans remain on the offensive as they continue to push their legislative agenda through Congress, Speaker of the House Dennis Hastert said Monday after addressing a packed audience at the George Bush Presidential Library.
However, the Illinois Republican spent the majority of his 30-minute speech delivered on the Texas A&M University campus responding to recent criticisms of President Bush and other high-ranking Republican officials.
He was invited to campus by former President George H.W. Bush to give the speech as part of the Bank of America Program on Volunteerism. During a brief introduction, Bush described Hastert as an honest, decent man and someone to turn to when "Washington gets ugly."