Shining a Light on Shadow Money

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Shining a Light on Shadow Money by Robert Maguire Outside Spending Researcher [email protected]

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Shining a Light on Shadow Money. by Robert Maguire Outside Spending Researcher [email protected]. - PowerPoint PPT Presentation

Transcript of Shining a Light on Shadow Money

Page 1: Shining a Light  on Shadow Money

Shining a Light on Shadow Money

by Robert MaguireOutside Spending Researcher

[email protected]

Page 2: Shining a Light  on Shadow Money

2006 2008 2010 2012 $-

$50,000,000

$100,000,000

$150,000,000

$200,000,000

$250,000,000

$300,000,000

$350,000,000

Nonprofit spending by disclosure

Full Disclosure

Wisconsin Right to Life

v. FEC

Citizens United v.

FEC

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“The First Amendment protects political speech; and disclosure permits citizens and shareholders to react to the speech of corporate entities in a proper way. This transparency enables the electorate to make informed decisions and give proper weight to different speakers and messages.”

– Citizens United majority opinion

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Shadow-Money Networks

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Fix #1 Annual 990 reports should be put online in a database open to the public.

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Want to Search 990s?• Pay $2100 annually• Receive monthly DVDs in the mail.

WE LOVETHE 90s

WE LOVE THE 1790s

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Want just a few 990s?• Fill out and print a form 4506-A• Fax or mail it to the IRS• Wait up to 60 days to receive a copy

in the mail

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脫褲子放屁Pulling your pants down to fart.

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Fix #2All 990-filing organizations should be included in summary data.

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The Pop-Up Problem“These groups are popping up like mushrooms after a rain right now, and many of them will be out of business by late November.”

– Trevor PotterFormer FEC Chairman

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Still don’t have exempt status*

* Try to find them on Guidestar.

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Summary Data• Employee Identification

Number (EIN)• Name• Mailing address• Type of 501(c)• Income amount• Registrant• Filing schedule

Additional 990 data• Description of programs• Total expenses• Expense breakdowns• Grants to other 501(c)s• Outside contractors• Board members• Affiliated organizations• Political expenditures