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Shining a Light on Shadow Money by Robert Maguire Outside Spending Researcher

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Presentation on theme: "Shining a Light on Shadow Money by Robert Maguire Outside Spending Researcher"— Presentation transcript:

1 Shining a Light on Shadow Money by Robert Maguire Outside Spending Researcher

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3 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

4 Shadow-Money Networks

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

6 Want to Search 990s? Pay $2100 annually Receive monthly DVDs in the mail. WE LOVE THE 90s WE LOVE THE 1790s

7 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

8 Pulling your pants down to fart.

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

10 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 Potter Former FEC Chairman

11 Still dont have exempt status* * Try to find them on Guidestar.

12 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


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