Donors Concealed by Future Forward USA Action
Future Forward USA Action, a pro-Biden political action committee (PAC), has come under scrutiny for not disclosing the identities of its donors. This lack of transparency raises questions about the source of the millions of dollars that will ultimately benefit Biden’s campaign.
Raised $200 Million in 2023
Earlier this year, Future Forward stated that it raised a staggering $200 million in contributions between its nonprofit and super PAC. Recent filings reveal that around $25 million was raised in 2023, most of which is believed to be held in its dark money nonprofit. This suggests that Biden stands to benefit from a significant amount of funds from undisclosed sources.
These revelations have sparked accusations of political hypocrisy. Joe Biden, who once spoke out against dark money and its negative effects on public trust, now finds himself propelled by millions of dollars in dark money. Caitlin Sutherland, executive director of Americans for Public Trust, called out this blatant hypocrisy, stating that it is the kind of behavior that the American people cannot tolerate.
Transfer of Funds
The new filings show that Future Forward’s nonprofit transferred a substantial amount of money to its super PAC, accounting for approximately 30% of the $25 million raised in the second half of last year. Notable recent donors include hedge fund billionaire James Simons ($2.5 million), Newsweb Corporation chairman Fred Eychaner ($2 million), and film producer and former Walt Disney Studios chair Jeffrey Katzenberg ($1 million).
A Web of Dark Money
This is not the first time that Future Forward has funneled dark money from its nonprofit to its super PAC. Previous reports have uncovered a complex network of groups overseen by the Arabella Advisors consulting firm, which manages a billion-dollar dark money network. These actions create an additional layer of secrecy, further obscuring the original supporters of Future Forward.
Impetus Fund and Future Forward’s Transfers
One of the groups involved in this web of dark money, the Impetus Fund, managed to go undetected for a significant period of time. Tax documents reveal that the Impetus Fund sent a large sum of undisclosed cash ($55.8 million) to Future Forward USA Action during the previous presidential cycle. Additionally, Future Forward USA Action transferred $77 million to the Future Forward PAC between the 2020 election and June 2023, accounting for over 40% of the PAC’s total fundraising during that period.
Future Forward’s Impact
After spending $141 million on independent expenditures in the last presidential cycle, Anita Dunn, a representative from Future Forward, emphasized the PAC’s influence in supporting Biden. Dunn stated that Future Forward had proven itself as the leading super PAC to back Biden, impressing the Biden campaign with their effective ads and rigorous testing.
Despite these revelations, Future Forward has not yet responded to requests for comment.