Skip to comments.Dark Money Network Conceals $20 Million in Liberal Election Spending
Posted on 07/22/2020 6:14:28 AM PDT by george76
Sixteen Thirty Fund acts as network for liberal donors to anonymously give to Democratic committees..
Deep-pocketed liberal donors are using a massive dark money network to conceal the source of nearly $20 million in donations to pro-Biden PACs.
Sixteen Thirty Fund .. normally works with advocacy organizations, has switched its focus to the election in recent months, sending large amounts to groups supporting Joe Biden in the presidential race. Wealthy donors push cash into the Sixteen Thirty Fundan entity housed at the D.C.-based dark money network Arabella Advisorswhich then disburses the money to prominent Democratic committees.
Arabella Advisors operates as an important funding avenue for wealthy liberal donors, allowing them to contribute to political groups anonymously. Each of several funds within Arabella, including the Sixteen Thirty Fund, acts as a "fiscal sponsor," providing its legal and tax-exempt status to dozens of liberal groups that fall under its auspices.
That status absolves the groups from having to disclose their donors. Donors' use of the Sixteen Thirty Fund as a vehicle for election PAC donations marks a departure from the group's normal operations. It normally serves as a pass-through entity to bankroll shadowy nonprofit groups behind left-wing initiatives. This year, however, Democratic candidates including Joe Biden will benefit from the fund's disbursements despite railing against secret money in politics.
Sixteen Thirty Fund "has taken dark money in politics to a new level of opacity by channeling money from secret donors to political groups while steering funds into its own fiscally sponsored operations."
Sixteen Thirty Funds fiscal sponsorship scheme not only enables seemingly independent groups to operate under its umbrella with little or no paper trail but also enables them to engage in a level of political activity that might not be possible if they operated as separate tax-exempt nonprofits
(Excerpt) Read more at freebeacon.com ...
“Arabella Advisors (commonly called Arabella) is a philanthropic consulting company that guides the strategy, advocacy, impact investing, and management for high-dollar left-leaning nonprofits and individuals. Arabella provides these clients with a number of services that ease their operations and that enable them to enact policies focused on environmentalism and other left-of-center issues. The company was founded in 2005 by Eric Kessler, a Clinton administration alumnus and long-time staffer at the League of Conservation Voters who remains a senior managing partner at the firm. Arabella Advisors manages four nonprofits that serve as incubators and accelerators for a range of other left-of-center nonprofits. These include the New Venture Fund, the Sixteen Thirty Fund, the Hopewell Fund, and the Windward Fund. These nonprofits have collectively hosted hundreds of left-wing policy...”
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