It seems that President Biden’s 2024 campaign is set to gain a significant financial advantage, as reports suggest massive undisclosed donations are coming from the main super PAC supporting his re-election bid.
Biden’s campaign previously highlighted the Future Forward PAC as the key external organization to bring in substantial funds. In July, The New York Times reported that Future Forward announced it had collected $50 million in the current year.
The evidence indicates that the funds might be located in Future Forward’s associated dark money nonprofit, Future Forward USA Action. While the PAC disclosed only $67,000 in contributions for the first half of the year, the recently released mid-year report showed these funds originated solely from a vendor refund and in-kind donations from the nonprofit for overhead costs.
Future Forward’s nonprofit, which doesn’t reveal its donor names, has shifted tens of millions to the PAC for electoral efforts in the past few years. This arrangement seems to set up Biden’s campaign for a substantial boost from hidden donors, especially since the nonprofit holds significant funds ahead of the election.
Critics have seized on this, with Caitlin Sutherland, the head of Americans for Public Trust, accusing Biden of hypocrisy. She stated that the President, who previously criticized dark money, is now benefiting from it, raising serious questions about the enormous undisclosed funds’ origins.
The movement of secret donations by Future Forward could keep Americans uninformed about who’s financially supporting the leading Biden super PAC for the 2024 election.
Previously, it was reported that a large part of the cash was channeled through various nonprofits managed by Arabella Advisors, a firm overseeing a massive dark money network. This tactic creates additional obscurity, hiding the true identity of the original donors.
Moreover, a dark money group known as the Impetus Fund, which had previously gone unnoticed, sent $55.8 million of its concealed funds to Future Forward USA Action during the last election cycle, as per tax documents.
Future Forward USA Action has also moved $77 million to the Future Forward PAC post the 2020 election, forming more than 40% of the $181 million gathered by the PAC in this period.
Having spent $141 million on independent expenses during the previous presidential race, Future Forward has been praised by senior White House adviser Anita Dunn as the top super PAC to support Biden in his current campaign.
Dunn expressed admiration for the group’s advertising in 2020, recognizing the effectiveness and thorough planning behind their campaign, an approach that appears to continue into the current election cycle.