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Unveiling Shadow Money: The Case for Transparency in Political Financing

This article by Robert Maguire discusses the importance of transparency in political financing, emphasizing the need for public access to annual 990 reports of organizations to enable informed electoral decisions. Drawing on insights from the Citizens United majority opinion, the piece argues that disclosure allows citizens and shareholders to better understand the influence of corporate entities in politics. It proposes a two-fold solution: establishing a public database for 990 reports and ensuring that all organizations filing 990s are included in summary data for easier public access.

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Unveiling Shadow Money: The Case for Transparency in Political Financing

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  1. Shining a Light on Shadow Money by Robert Maguire Outside Spending Researcher robert@crp.org

  2. “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

  3. Shadow-Money Networks

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

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

  6. 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

  7. 脫褲子放屁 Pulling your pants down to fart.

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

  9. 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

  10. Still don’t have exempt status* * Try to find them on Guidestar.

  11. 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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