A left-wing dark money network, known for its secretive funding operation, raised more than $1.3 billion in anonymous donations to fund progressive projects in 2023, according to tax filings reviewed. Arabella Advisors, a billion-dollar, Washington, D.C.-based consulting network, consists of six nonprofits: New Venture Fund, Sixteen Thirty Fund, Windward Fund, Hopewell Fund, North Fund, and Telescope Fund.
In total, the groups acquired about $1.35 billion in 2023 alone, with the six funds collectively sending nearly $1.5 billion in grants to other organizations that same year, as per tax filings. Each fund acts as a fiscal sponsor to other left-wing nonprofits by providing their tax status, allowing the fiscally sponsored groups to avoid filing tax forms to the IRS. The network also moves significant sums to progressive groups outside their network.
The latest expenses include hundreds of millions of dollars in funding for internally managed initiatives, totaling well over $1 billion to support various liberal causes on top of operational costs such as salaries. New Venture Fund, the largest nonprofit in the network, raised $669 million, while the Windward Fund, a 'climate resilience' group, received $212 million in secret donations.
The Sixteen Thirty Fund, committed to tackling society's biggest social challenges like climate change and gun reform, brought in $181 million, spending about $141 million. The North Fund, focusing on LGBTQ+-related initiatives, the environment, and gender equity, received $59 million and spent about $39 million.
The Hopewell Fund brought in about $157 million, while the Telescope Fund raised over $69 million in donations last year. Combined, the nonprofits also sent back about $48 million to their firm, Arabella Advisors. The network sent about $17 million to Democratic attorney Marc Elias’ firm, Elias Law Group.
The Windward Fund sent $2.2 million to the China-tied Rocky Mountain Institute, a group with ties to the Biden White House working to ban gas stoves. In response to the findings, Americans for Public Trust Executive Director Caitlin Sutherland expressed concerns about the use of dark money in funding left-wing policy pushes.
In a statement, Arabella Advisors clarified that they are a consulting business supporting philanthropy and did not spend nearly $1.5 billion in 2023. They noted that the tax filings in question belong to independent nonprofit organizations.
