NY Times: Dems Outpaced GOP in Raising and Spending 'Dark Money' in 2020 (Dreamstime)
By Nick Koutsobinas | Sunday, 30 January 2022 10:22 PM
The New York Times reports that Democrats outpaced Republicans in the raising of and spending of "dark money" in 2020.
The reports indicates that 15 of the most prominent Democrat-leaning political nonprofit organizations spent more than $1.5 billion in 2020, while 15 groups more closely leaning toward the GOP spent around $900 million.
"A single, cryptically named entity that has served as a clearinghouse of undisclosed cash for the left, the Sixteen Thirty Fund, received mystery donations as large as $50 million and disseminated grants to more than 200 groups, while spending a total of $410 million in 2020 — more than the Democratic National Committee itself," the Times reported.
Additionally, the investigative publication Real Sludge reports the formerly titled Bill & Melinda Gates Foundation gave nearly $70 million in 2020 to "Arabella Advisors' New Venture Fund (NVF), a major player in the political nonprofit sphere that is the payroll reporting agent for Sixteen Thirty Fund, a dark money group that funneled tens of millions to super PACs during that 2020 election cycle that backed Democratic candidates including President Joe Biden. The most recent tax returns available (2019) show that New Venture Fund, which raised $450 million from anonymous sources that year, transferred $33 million to Sixteen Thirty — the largest single donation given by the former and received by the latter."