You thought super PACs were bad? Read this and weep.
Two conservative nonprofits, Crossroads GPS and Americans for Prosperity, have poured almost $60 million into TV ads to influence the presidential race so far, outgunning all super PACs put together, new spending estimates show.
These nonprofits, also known as 501(c)(4)s or c4s for their section of the tax code, don't have to disclose their donors to the public. [Unlike super PACs, which do.]
Crossroads GPS, or Crossroads Grassroots Policy Strategies, is the brainchild of GOP strategist Karl Rove, and spent an estimated $41.7 million. Americans for Prosperity, credited with helping launch the Tea Party movement, is backed in part by billionaire brothers David and Charles Koch, and spent an estimated $18.2 million.
Campaign-finance reform advocates say the spending by the two organizations highlights the role anonymous money is playing in this election, which will be the most expensive in history.
[Added] The lede from the quoted link:
One of the most talked-about "dark money" groups of the election released its tax returns yesterday, showing it raised almost $77 million from fewer than 100 donors over 19 months. Most of the money spent in its first year went directly to political ads or grants to other groups.
My emphasis added in both blockquotes.