A left-wing dark money network, known for its secretive funding operation, raised 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, Washington, D.C.-based consulting network, consists of six nonprofits: 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, tax filings show.
Each fund acts as a fiscal sponsor to other left-wing nonprofits by providing their tax status to the nonprofits housed beneath them. This setup allows the fiscally sponsored groups to avoid filing tax forms to the IRS. The six funds also move massive sums to progressive groups outside their network.
The latest expenses include hundreds of millions of dollars in funding for internally managed initiatives, meaning the network spent well over $1 billion to support various liberal causes on top of operational costs such as salaries.
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Billionaires, including George Soros, have passed money through the Arabella Advisors-managed dark money network. (Simon Dawson/Bloomberg)
New Venture Fund, the largest nonprofit in the network, raised $669 million while the Windward Fund, a “climate resilience” group, received $212 million in secret donations. Combined, 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, brought in $181 million, spending about $141 million.
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The North Fund, which received $59 million last year, funds projects related to LGBTQ+-related initiatives, the environment and “gender equity.” The group reported spending about $39 million last year.
The Hopewell Fund brought in about $157 million, while the Telescope Fund raised over $69 million in donations last year. The two groups together spent about $193 million.
Eric Kessler, the founder and principal of Arabella Advisors, speaks during an Aspen Institute panel in December 2018. (The Aspen Institute/YouTube)
Combined, the nonprofits also sent back about $48 million to their firm, Arabella Advisors.
The network sent about $17 million to Democratic attorney Marc Elias’ firm, Elias Law Group, from both the Hopewell Fund and the North Fund,
The Windward Fund sent $2.2 million to the China-tied Rocky Mountain Institute, a group with ties 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 — rake in over a billion dollars to fund their radical leftwing policy pushes across the country,” Americans for Public Trust Executive Director Caitlin Sutherland told Fox News Digital in a statement. “For people who claim to want to ban dark money, liberals sure have no problem when it funds their own team.”
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In 2022, Arabella raised a staggering $1.3 billion in anonymous donations and poured more than $900 million into a wide range of progressive causes last year, a previous Fox News Digital review found.
Arabella Advisors told Fox News Digital that the firm is a “consulting business that supports philanthropy” and that they “did not spend nearly $1.5 billion in 2023.”
“The 2023 tax filings you are referring to do not belong to Arabella Advisors,” Arabella Advisors continued. “They are tax filings for independent nonprofit organizations.”
Fox News’ Joe Schoffstall contributed to this report.
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