A left-wing dark money network known for its secret fundraising operations has collected more than $1.3 billion in anonymous donations to fund progressive projects in 2023, according to tax filings reviewed by Fox News Digital.
Arabella Advisors, a billion-dollar advisory network based in Washington, DC, is comprised of six nonprofit organizations: New Venture Fund, Sixteen Thirty Fund, Windward Fund, Hopewell Fund, North Fund and Telescope Fund. In total, the groups acquired about $1.35 billion in 2023 alone and the six funds collectively sent nearly $1.5 billion that same year in grants to other organizations, according to tax filings .
Each fund acts as a fiscal sponsor of other left-leaning nonprofits by providing their tax status to the nonprofits housed under them. This setup allows fiscally sponsored groups to avoid filing tax forms with the IRS. The six funds also transfer massive sums to progressive groups outside their network.
The latest spending includes hundreds of millions of dollars in funding for internally managed initiatives, meaning the network has spent well over $1 billion supporting various liberal causes, in addition to operational costs such as salaries .
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Billionaires including George Soros moved money through the dark money network run by Arabella Advisors. (Simon Dawson/Bloomberg)
New Venture Fund, the network’s largest nonprofit, raised $669 million while the Windward Fund, a “climate resilience” group, received $212 million in secret donations. Together, the groups spent about $1.1 billion in 2023.
The Sixteen Thirty Fund, a group “committed to tackling society’s biggest social challenges” such as climate change and gun reform, has raised $181 million and spent about $141 million.
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The Northern Fund, which received $59 million last year, funds projects related to LGBTQ+, environmental and “gender equity” initiatives. The group said it spent about $39 million last year.
The Hopewell Fund brought in about $157 million, while the Telescope Fund raised more than $69 million in donations last year. The two groups together spent about $193 million.
Eric Kessler, founder and principal of Arabella Advisors, speaks at an Aspen Institute panel in December 2018. (The Aspen Institute/YouTube)
Together, the nonprofits also returned about $48 million to their company, Arabella Advisors.
The network sent about $17 million to Democratic attorney Marc Elias’s firm, Elias Law Group, from both the Hopewell Fund and the North Fund,
The Windward Fund sent $2.2 million to the Rocky Mountain Institute, a group linked to the Biden White House that is working to ban gas stoves.
“Year after year, the undisputed kings of dark money – the Arabella Advisors network – raise more than $1 billion to finance their radical left-wing policies across the country,” said the executive director of Americans for Public Trust, Caitlin Sutherland, to Fox News Digital in a statement. “For those who claim to want to ban dark money, liberals certainly have no problem when it funds their own team.”
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As of 2022, Arabella has raised a whopping $1.3 billion in anonymous donations and contributed more than $900 million to a wide range of progressive causes last year, according to a previous Fox News Digital review.
Arabella Advisors told Fox News Digital that the company is an “advisory firm that supports philanthropy” and that it “has not spent nearly $1.5 billion in 2023.”
“The 2023 tax returns you reference do not belong to Arabella Advisors,” Arabella Advisors continued. “These are tax returns for independent, nonprofit organizations.”
Fox News’ Joe Schoffstall contributed to this report.
