THE SUSTAINED SUPERHIGHWAY
An interactive analysis of a sophisticated, multi-year financial network designed to channel a $1.6 billion windfall into political influence, leveraging the infrastructure of American philanthropy.
$1.6 Billion
The historic, tax-advantaged contribution from Barre Seid that capitalized the Marble Freedom Trust.
$485+ Million
Total grants from MFT to intermediary DAFs like Schwab Charitable and DonorsTrust since 2022.
$400+ Million
Funds routed from these DAFs to The 85 Fund, a central hub in Leonard Leo's network.
Executive Summary
This analysis deconstructs the financial architecture linking the Marble Freedom Trust (MFT) and major donor-advised fund (DAF) sponsors like Schwab Charitable (DAFgiving360™) and DonorsTrust. Our investigation reveals a sustained, multi-hundred-million-dollar pathway designed to channel politically motivated funds through the charitable sector. This structure obscures the funds' origins, provides a veneer of charitable legitimacy, and exploits U.S. nonprofit law to reshape American law and public policy. This application allows you to interactively explore this network, trace the money across different fiscal years, and understand the mechanisms at play.
The Primary Money Trail
The core of the network involves a two-step transfer from a political entity to an operational hub via a charitable intermediary. Click on each element to reveal its role.
Marble Freedom Trust
The Capital Source
DAF Conduits
The Intermediaries
The 85 Fund
The Operational Hub
Marble Freedom Trust (MFT)
The source of the funds. A 501(c)(4) trust endowed with a $1.6B contribution. Its primary purpose is to make large grants to other entities in the network. It provides the capital and the political direction.
The Key Players
Understanding the entities behind the money is crucial to understanding the network's purpose and strategy.
Marble Freedom Trust (MFT)
Role: The Capital Engine
A secretive 501(c)(4) "social welfare" organization that functions as the financial engine for Leonard Leo's network. Established in 2020, it was capitalized by a historic $1.6 billion donation. MFT's sole purpose is to deploy this windfall to a select group of organizations.
The DAF Conduits (Schwab Charitable & DonorsTrust)
Role: The Financial Intermediaries
Major Donor-Advised Fund (DAF) sponsors that function as neutral financial conduits. This "pass-through" nature is key to the network's strategy, as it allows funds from a political 501(c)(4) like MFT to be "washed" of their origin, re-emerging as grants from an apolitical 501(c)(3) public charity, which provides both anonymity and regulatory cover.
The 85 Fund
Role: The Operational Hub
A 501(c)(3) organization that acts as a central distribution hub. It receives the vast majority of its funding from the MFT-funded DAFs. The 85 Fund then distributes this money to other conservative groups and, crucially, pays tens of millions annually to CRC Advisors, a for-profit firm chaired by Leonard Leo.
The Architecture of Obscurity
The network's effectiveness relies on exploiting the legal distinctions between different types of nonprofits. The Donor-Advised Fund (DAF) is the central gear in this machine.
How a DAF Launders Political Money
A DAF provides two key advantages for this network: anonymity and regulatory shielding. Follow the steps below.
Step 1: The Contribution
MFT (a political 501c4) donates millions to a DAF account. MFT gets a tax deduction. The money's origin is now shielded.
Step 2: The "Advice"
MFT "advises" the DAF sponsor to grant funds from its account to The 85 Fund. The grant is now legally from the DAF sponsor, not MFT.
Step 3: The Grant & The Shield
The DAF grants the money to The 85 Fund. For regulatory purposes, this grant is considered "public support," protecting The 85 Fund's charitable status, which a direct grant from MFT would have jeopardized.
Weaponizing the Tax Code
501(c)(4) as Capital Engine
MFT's (c)(4) status was perfect for absorbing the $1.6B company stock donation tax-free.
DAF as Anonymizer
Grants made from the DAF are publicly recorded as coming from Schwab Charitable or DonorsTrust, not MFT. This breaks the public money trail.
DAF as Status Shield
This is the most sophisticated step. A grant from a DAF sponsor counts towards a charity's "public support test." This allows The 85 Fund to be almost entirely funded by one source (MFT) while legally appearing to be publicly supported.
The Sustained Financial Superhighway
This interactive timeline visualizes the primary funding channels identified in our investigation. Select a time period to see how the money flowed.
Marble Freedom Trust
(Source)
DAFgiving360™
(Schwab Charitable)
DonorsTrust
(DAF Intermediary)
The 85 Fund
(Parallel Flow)