Media Matters Founder Accused of Illegally Profiting From Non-Profit Group
Media Matters founder David Brock could find himself in some trouble following a complaint that he’s using a non-profit group to enrich himself.
For the few unaware, Media Matters’ activities involve watching Fox News all day, misrepresenting that people on those networks actually said, and then pressuring Fox’s advertisers to drop them. And for some reason they maintain nonprofit status.
But it’s actually another group Brock shares an interest in that has him under fire this time.
As reported by Brock’s favorite network, Fox News:
The David Brock-founded, far-left group American Bridge 21st Century potentially violated its tax-exempt status by engaging in political activities while billing itself as a nonprofit, according to Bloomberg, which cited a complaint filed Thursday with the IRS.
The Patriots Foundation, a right-leaning ethics group, filed a complaint with the IRS claiming Brock’s group is largely a political organization and therefore has violated tax laws, according to Bloomberg.
“American Bridge has a super-PAC arm that can spend unlimited sums to influence elections. But the primary purpose of nonprofits organized under section 501(c)4 of the tax code like American Bridge cannot be politics. The complaint quotes material given to potential donors to the nonprofit arm in 2017 saying the organization’s mission is ‘to take on Donald Trump,’” Bloomberg’s Bill Allison wrote.
American Bridge is a dark money group, meaning they don’t have to disclose their donors, but we do know that George Soros is a prominent donor to the group.
The “complaint also alleges that American Bridge has made improper payments that benefited Brock” and the “nonprofit made a total of $2.7 million in equity investments in 2017 and 2018 in True Blue Media Services LLC, a private, for-profit company that has used content from American Bridge,” according to Bloomberg. “Brock, a ‘conservative hit man’ during the Clinton administration who became a progressive activist, held a 35% interest in the firm, according to American Bridge’s tax returns.”
American Bridge’s president dismissed any allegations of wrongdoing, claiming that these allegations serve only to “mislead the public” to further a political agenda.
Or in other words, he’s accusing the accusers of behaving like Media Matters.