How Dark Money Gets To The Supreme Court [Forbes]
Morgan Stanley (MS)
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Source: Forbes
The U.S. Supreme Court building on May 17, 2021 in Washington, DC. D ark money has arrived at the Supreme Court. Donors are increasingly pushing money into something called donor-advised funds, which operate like piggy banks for nonprofit giving. The funds then route that money to legally minded nonprofits, who help pay for lawyers, file briefs and–the donors surely hope–impact rulings. The best part of all of this? Because individuals aren't giving directly to nonprofits–instead moving their money through middlemen funds–the nonprofits can hide the identities of the individual contributors. Tax filings from 2022, the most recent year available, show that donors sent more than $48 million through donor-advised funds to groups bringing major cases to the Supreme Court this term. That accounted for 44% of all money flowing to those groups, which in turn reported spending $26 million on litigation. Despite the lack of transparency, some names can slip out. Billionaire Hobby Lobb
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