Hell of a read. The IRS needs to change that social welfare loop hole, NOW.
Seid’s bequest is believed to be the largest dark money donation in U.S. history. Charitable nonprofits are required to disclose their major donors, but the IRS class of political recipients defined as “social welfare” groups like Leo’s Marble trust are not. “Seid’s donation seems to be one of the largest, if not the largest, single political donation ever given,” said Kathleen Enright, president of the Council on Foundations, a nonprofit association of philanthropic entities. “But to be clear, this is not a charitable contribution by any means. It is a political contribution made to support a political agenda.”