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Liberal dark money giant rakes in over $1.5 billion from secret donors, tax records show

Washington Examiner logo Washington Examiner 11/16/2022 Gabe Kaminsky
One Dollar Bill in fire. Financial crisis concept. © D-Keine/Getty Images/iStockphoto One Dollar Bill in fire. Financial crisis concept.

The largest liberal dark money network in the United States hauled in over $1.5 billion from anonymous donors in 2021, tax records show.

Arabella Advisors is a consulting firm based in Washington, D.C., that oversees five nonprofit groups bankrolling left-wing causes. The network, which has been dubbed a dark money giant due to its complex arrangement that allows donors to be shielded from the public eye, also spent almost $1 billion combined in 2021, according to the newly released tax documents for the network groups.

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"These latest tax returns prove that the Arabella Advisors network remains the largest dark money player in American politics," Caitlin Sutherland, executive director of Americans for Public Trust, a conservative ethics watchdog, told the Washington Examiner.

Arabella's network consists of the Sixteen Thirty Fund, the New Venture Fund, Windward Fund, Hopewell Fund, and North Fund. The nonprofit groups all have different liberal issue focus areas and fiscally sponsor other liberal nonprofit groups. This allows the sponsored groups to not file IRS tax forms.

In addition, the organizations managed by Arabella do not disclose their donors on tax forms.

The largest group in the Arabella network is the New Venture Fund, which focuses on a variety of liberal issues, including environmentalism, education, and the arts. The fund raked in $955 million in 2021 and disclosed $553 million in expenses.

America Votes, a progressive nonprofit group that has received funding from George Soros, earned over $7 million from the New Venture Fund in 2021, records show. Community Change, a social justice nonprofit group run by Lorella Praeli, who sits on the U.S. Treasury Department's racial equity committee, received over $1.7 million from the New Venture Fund.

The Windward Fund, the primary environmental and climate group under Arabella, spent $72 million and hauled in around $273 million in 2021, documents show. The Sixteen Thirty Fund, which heavily fought the nomination of U.S. Supreme Court Justice Brett Kavanaugh, hauled in $190 million.

"After raking in nearly $1.6 billion in anonymous contributions and spending nearly $1 billion, this network has established itself as the preeminent hub on the left to finance efforts to defund the police, pack the Supreme Court, enforce radical green energy policies, and prop up the Biden administration's failing agenda," added Sutherland.

The Hopewell Fund, which pushes social justice and economic issues, took in around $123 million. The North Fund, the smallest group in the network that has been behind efforts to "pack" the U.S. Supreme Court and abolish the Electoral College, raked in around $43 million.

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In 2021, Arabella received around $47 million for management, operations, and administrative services for the five funds, tax records show. Between 2006 and 2020, Arabella's network boasted a revenue of $4.7 billion and spent $3.3 billion.

Arabella Advisors did not respond to a request for comment.

 

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Tags: Nonprofits, Dark money, Democrat, Midterms 2022, News

Original Author: Gabe Kaminsky

Original Location: Liberal dark money giant rakes in over $1.5 billion from secret donors, tax records show

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