A fascinating paper trail created by Media Matters For America and its lobbying affiliate, Media Matters Action Network, showcases the wealthy political machine that The Daily Caller has been exploring this week.
TheDC has obtained copies of both organizations’ tax returns from 2010 (neither has filed a 2011 return yet), and Media Matters For America’s audited financial statement from the same year. The documents are chock full of insights into what can happen when wealthy left-wing donors lavish no-strings-attached cash on partisan activists.
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Tax experts, to say nothing of congressional staffers, may soon be poring over these papers for insight into how Media Matters has managed to keep its tax-exempt status intact. But TheDC has identified ten nuggets of information that stand out from its 2010 financials.
Together, Media Matters and Media Matters Action collected $14.6 million in 2010. That represented a massive increase over the $8.1 million the groups raised in 2009.
While Media Matters does not publicly identify any of its donors, it is required to disclose the largest dollar amounts it received from individual contributors. Its 21 most generous donors gave more than $7.6 million in 2010 — more than half the total it raised. Two of those donors contributed more than $1 million each.
Read More at The Daily Caller By David Martosko