As presidential candidates promise to refuse so-called “dark money” and Members of Congress decry the role of money in politics, a Special Report from CRC dispels one of the biggest myths in political discourse: the Left doesn’t use “dark money.”
The political Left often criticizes—and the mainstream media frequently report on—the network of center-right nonprofits funded by billionaire entrepreneurs Charles and David Koch. But few politicos know of a left-wing leviathan in Washington, D.C., with a reach rivaling that of the Koch network.
This study by the Capital Research Center documents a shadowy web into which nearly $600 million flowed in 2017, the most recent year for which tax returns are available. Operating under the aegis of “philanthropy,” this network is housed in and staffed by a for-profit, privately held consultancy called Arabella Advisors, LLC. Arabella manages four non-profit entities—the New Venture Fund, Sixteen Thirty Fund, Windward Fund, and Hopewell Fund—each of which shares an address and interlocking officers with Arabella.
Some of the nation’s largest grant-making institutions, including the Rockefeller, Packard, and Kellogg Foundations are donors to the funds managed by Arabella. It remains unclear why such large and powerful institutions seek outside philanthropic consulting, but presumably a significant part of Arabella’s appeal lies in its ability to obscure large financial transactions.
['Money laundering' is the generic term used to describe the process by which criminals disguise the original ownership and control of the proceeds of criminal conduct by making such proceeds appear to have derived from a legitimate source. Apart from the 'criminal' aspect of the sources, this process seems very similar, doesn't it? --Editor]