Schwab Charity Funnels $250M to Right-Wing Causes
The $141 million donation to the 85 Fund was the Schwab Charitable Fund’s second-largest donation in 2022, according to the filing, surpassed only by a $480 million donation to Johns Hopkins University.
The Schwab Charitable donor-advised fund is not focused only on conservative causes; donors can give their money to the fund for any charitable purpose. In 2022, the fund doled out money to higher education institutions and dozens of nonprofits.
Details on the 85 Fund
The 85 Fund, a charitable organization, is not allowed to directly influence elections but it funds dozens of conservative nonprofits that advocate on key issues for the right.
In 2022, the 85 Fund reported $134 million in revenue; the Schwab Charitable Fund accounted for 95% of those donations.
The 85 Fund has given millions of dollars to conservative groups including the Federalist Society, a legal organization chaired by Leo; the Ethics and Public Policy Center, a think tank that describes its mission as “applying the Judeo-Christian moral tradition” to public policy; and the Paragon Health Institute, a think tank helping to draft health regulations for the next Republican administration.
The 85 Fund also operates under different names, according to new research from progressive watchdog group Accountable.US.
According to 85 Fund filings, it is the fiscal sponsor behind groups such as the Honest Elections Project, which advocates for voting restrictions; Free to Learn, a group behind a national advocacy campaign against critical race theory; and American Parents Coalition, a “parental rights” organization that focuses on issues such as transgender rights, diversity in education and online content control.
Each of those groups is technically registered under the 85 Fund.
“The 85 Fund continues to use its seemingly unfettered access to Leonard Leo’s $1.6 billion windfall to fund his right-wing agenda — even going so far as to register fictitious names to launch far-right, issue-targeted attacks and dodge transparency,” said Accountable.US president Caroline Ciccone.
(Credit: Bloomberg)
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