It’s a truism about politics that money follows power.
And in California, those with money who want to influence those with lawmaking power have myriad legal ways of doing so. Individuals, companies and special interests looking to curry favor with elected officials can donate to reelection campaign accounts through political action committees, give gifts, pay for exotic travel, and wine and dine officials all within limits set in law.
There are indirect ways to buy goodwill too, often without limits; one of the most troubling is through the use of “behested payments.” That’s when elected officials ask donors to give to a specific nonprofit or government program. The only legal requirement is that donations over $5,000 be reported to the state’s Fair Political Practices Commission.
Editorial: Charitable donations are a form of influence-peddling And they should be stopped
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Democrats advance legislation to aid Colorado s unauthorized immigrants – The Durango Herald
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A cryptocurrency billionaire seems to have made one of the largest contributions to save lives in India from the coronavirus pandemic: Over $1 billion.
But as there so often is in the world of cryptocurrency, there is a massive catch. And it’s a catch that over the next few years will likely come up again and again and again as crypto billionaires ascend to become major players in the world of philanthropy.
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After Los Angeles Mayor Eric Garcetti took office in 2013, he helped launch a charity fund that allows donors to support diverse programs from environmental initiatives to youth employment.
Since then, Garcetti has reported raising more than $60 million from corporations, foundations, and individuals for the nonprofit Mayor’s Fund for Los Angeles. A Times data analysis found that at least $3.8 million of that total came from contributors who gave through accounts that mask their identity, a practice that alarms ethics watchdogs who say such donations skirt a state law intended to make those donors’ names public.
These contributors used donor-advised funds, a type of charitable giving account offered by some nonprofit foundations and for-profit investment firms that provide a generous tax deduction and, when requested, anonymity.