Left-Wing Billionaires Turn to For-Profit Corporations For Giving

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Free Beacon

Move allows them to avoid disclosures associated with non-profit organizations

Liberal billionaire donors are exploiting a new way of funneling millions of dollars to left-wing political groups.

In 2015, Facebook founder and Democratic donor Mark Zuckerberg set up a limited liability corporation and moved millions of untraceable dollars to leftist groups. Under the LLC format, he may legally spend unlimited sums in support of Democratic politicians, lobbying groups pushing for radical policies, and far-left activists who advocate for "reforms" that hurt election integrity.

This marks a radical departure from most megadonors’ use of tax-exempt nonprofits to fund political groups by side-stepping the IRS disclosure requirements and the ban on election intervention faced by foundations.

The benefit to Zuckerberg is clear: maximize political spending and minimize public scrutiny, in exchange for forgoing a foundation’s tax exemption. And other ultra-liberal billionaires are following suit, a trend that's created a black hole for watchdog groups.