David Brock, a man considered “one of the most influential operatives in the Democratic Party”, is accused of illegally transferring millions of dollars from a nonprofit to a for-profit entity. A liberal profiting from their own political empire. Typical. Brock is the founder of Media Matters for America and a longtime ally of the Clintons. He is now under investigation for possibly violating tax laws.
Far-left Super PAC American Bridge 21st Century was founded in 2011 by David Brock. This also included the nonprofit group American Bridge Foundation. The American Bridge 21st Century was accused of transferring $2.7 million in tax-exempt assets to True Blue Media, a for-profit company owned by Brock. This is the parent company of ShareBlue, also known as The American Independent.
This transfer was disclosed in the nonprofit’s Form 990’s filed to the IRS in 2017 and 2018. Patriots Foundation, a right-leaning nonprofit, detailed a series of transactions that show the injection of money from a tax-exempt group Brock founded into a private, for-profit news business he owns. His organization exploits the tax-exempt status of the organizations for personal benefit and political purposes. He was “siphoning millions for improper purposes,” said Patriots Foundation co-founder Craig Robinson.
“David Brock, a leading left-wing political consultant, raises millions of dollars every year to influence the media, politics, and campaigns,” Craig Robinson said. “Behind the scenes, his network of organizations have engaged in very troubling behavior that warrants serious investigation.”
The Patriots Foundation have filed complaints providing damning indictment of serious allegations about how these organizations were exposed for personal gain. The IRS is being called to conduct a thorough investigation of Brock’s organizations and to hold them accountable for all violations.
The complaint states that Brock’s organization has abandoned all attempts at describing itself as a social welfare organization and has become singularly focused on taking on the President of the United States. To remove any conflict of interest, David Brock resigned as an officer and a member of the board of directors of American Bridge in 2016 before the first investment was made. However, the AB Foundation still refers to Brock as its chairman as of 2018. Even Brock currently labels himself as the chairman of the American Bride.
According to records, American Bridge 21st Century has spent $10 million on anti-Trump advertising in battleground states. This is fairly common for advocacy groups with political and non-profit arms but this also calls for a clear delineation of how shared resources are divided amongst the group. The Foundation and American Bridge do not have a formal agreement relating to the allocation of expenses between the two entities.
This commingle of tax-exempt resources is nothing but a dark money advocacy group so of course he has close ties to the Clintons. AB Foundation and Media Matters have not immediately returned requests for comment.