This report from the Center for Political Accountability sheds light on electoral spending by public companies heavily involved in the emerging cryptocurrency fields. The report traces tens of millions of dollars in targeted political spending and links that spending to concrete risks, caused by this spending, that affect already embattled companies.
What is a 501(c)(4) organization? According to The 2024 CPA-Zicklin Index of Corporate Political Disclosure and Accountability, IRC section 501(c)(4) exempts from federal income tax “certain civic groups and nonprofit organizations, whose primary purpose is to promote social welfare.”
“With Donald Trump, everything is transactional and based on his animosity towards people. Some companies donate to gain access, while others do so for protection,” Bruce Freed explains
“Every company is lining up to ‘buy favors,’” said Bruce Freed, CPA President.
“The donations to the inaugural fund are basically to gain favour and to gain access,” said Bruce Freed, president and co-founder of the Center for Political Accountability
The 2024 trilogy of reports by the Center for Political Accountability— Corporate Underwriters and the Democracy Gap, Courting Risk: Corporate Underwriters & State Attorneys General, and Corporate Underwriters: Where the Rubber Hits the Road executive summary.
Support by the largest institutional investors for the Center for Political Accountability’s corporate political disclosure resolution dropped to 63.7 percent in the 2024 proxy season, down from 2023’s 70.1 percent support from this group of investors, according to analysis based on shareholder voting data from Diligent Market Intelligence.