Free Republic

In this overview, Mike examines Treasury Secretary Scott Bessent’s effort to follow the money behind tax-exempt organizations, political campaigns, extremist activity, and what he describes as the financial architecture of the deep state.From Arabella Advisors and the Sixteen Thirty Fund to the Tides Foundation, Open Society Foundations, CAIR, and the Southern Poverty Law Center, Mike explains how donations can move through interconnected charities and political organizations without revealing the original donors. These networks, he argues, allow billionaire-backed operations to influence elections, protests, political movements, and American culture while retaining their tax-exempt status.

Requiring the disclosure of fiscal sponsorships is key. On April 23, the US Treasury Department announced that the IRS plans to revise Form 990—the annual information return filed by tax-exempt organizations—to improve transparency and strengthen oversight, specifically targeting reporting on government contracts, government grants, and fiscal sponsorship arrangements. The stated goals are to detect misconduct and hold wrongdoers accountable. Treasury Secretary Scott Bessent put the matter bluntly: “We are ending the days of hiding fraud, abuse, and extremist activity behind complicated nonprofit arrangements. When bad actors misuse charitable structures, directors and officers should understand that transparency can lead to scrutiny,...