4.6 • 12 Ratings
🗓️ 30 June 2024
⏱️ 4 minutes
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More now than ever before, dark money has arrived at the Supreme Court.
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0:00.0 | Here's your Forbes Daily Briefing for Sunday, June 30th. |
0:05.0 | Today on Forbes, how dark money gets to the Supreme Court. |
0:10.0 | You might feel like you're seeing a lot of Supreme Court decisions in the news lately. |
0:14.4 | That's because the court often announces a number of big decisions near the end of its term, usually in June. |
0:21.0 | Chief Justice John Roberts made a courtroom announcement Friday that the court's last |
0:26.1 | rulings of this term will be issued Monday, including a major case that will decide whether |
0:30.7 | former President Trump has immunity from prosecution. |
0:35.5 | More now than ever before, so-called dark money has arrived at the Supreme Court. |
0:41.6 | Donors are increasingly pushing money into something called donor advised funds, which operate like piggy banks for nonprofit giving. |
0:49.0 | The funds then route that money to legally minded non-profits, who help pay for lawyers, file briefs, and |
0:56.4 | the donors surely hope impact rulings. |
1:00.5 | Because individuals aren't giving directly to nonprofits, |
1:03.4 | instead moving their money through middlemen funds, |
1:06.6 | the nonprofits can hide the identities of the individual contributors, |
1:10.8 | hence the name dark Money. Tax filings from |
1:14.8 | 2022, the most recent year available, show that donors sent more than 48 |
1:19.8 | million dollars through donor-advised funds to groups bringing major cases to the Supreme Court this term. |
1:26.0 | That accounted for 44% of all money flowing to those groups, |
1:30.0 | which in turn reported spending 26 million dollars on litigation. |
1:35.0 | Despite the lack of transparency, some names can slip out. |
1:40.0 | Billionaire Hobby Lobby founder David Green, for instance, |
1:44.0 | has confirmed donating to two major donor-advised fund providers, |
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