Posted by Matt, a resident of the Menlo Park: Suburban Park/Lorelei Manor/Flood Park Triangle neighborhood, on May 3, 2012 at 10:37 am Jenny K:
No, Super Pacs are not required to disclose. For example, Rove's American Crossroads/Crossroads GPS has a goal of $250 million, is a third of the way there, and reportedly has had only 4 or 5 major donors.
No transparency.
Clear as mud.
"American Crossroads GPS, the group co-founded by Karl Rove in 2010, has been fueled by massive donations since its inception, according to recently released tax documents.
The group’s tax filings reveal mostly large donations, coming from either wealthy individuals or corporations. Since the group’s inception, 24 donations of over $1 million have accounted for 87 percent of its total fundraising.
Only donations of more than $5,000 are disclosed to the IRS, but among those the average value has nearly equaled $800,000. In its most recent tax documents, dating back to last June, GPS’s largest donation amounted to $10 million; the second largest, $4.3 million. The group has taken 12 donations of more than $2 million and two donations of $10 million or more since its founding.
The group has raised at least $76.8 million in total.
Crossroads GPS does not disclose its donors, making it difficult or impossible to know where the money came from. The group released its tax filings to reporters on Tuesday."
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