Marble Freedom Trust
Marble Freedom Trust is a 501(c)(4) conservative nonprofit organization founded by conservative lawyer Leonard Leo. As of April 2021, it is funded entirely by Tripp Lite CEO Barre Seid. The trust self-reports a mission "to maintain and expand human freedom consistent with the values and ideals set forth in the Declaration of Independence and the Constitution of the United States" according to its tax filings.[1]
The name "Marble Freedom Trust" derives from the marble rock, symbolizing an "intent to be enduring and maintain a clarity of purpose" according to the New York Times.[1]
Marble Freedom Trust lists its address as the Utah home of Tyler Green, who is a Marble Trust trustee. Green was also a clerk under Supreme Court Justice Clarence Thomas.[2]
Contents
News and Controversies
Marble Trust Pays Law Firms
The New York Times reports that Marble trust paid $940,000 for legal fees to the firm Sullivan & Cromwell, $140,000 to Kirton McConkie, and $100,000 to Holtzman Vogel. These firms specialize in business transactions, corporate law, and political law respectively.[1]
Marble Trust Receives Largest Known Political Donation in US History
Barre Seid's $1.6 Billion donation to Marble Trust is the largest known donation made to a political advocacy group in United State's history. For context, 15 of the most politically active Republican groups spent $900,000,000 in 2020. The $1.6 Billion comprises of 100% of the shares of Seid's company, Tripp Lite, which has sense been sold to an Irish conglomerate called Eaton.[1] Due to the 501(c)(4) nature of Marble Trust, Seid was able to avoid at most $400,000,000 in taxes, Huffpost reports.[3] Leo told the Times it was "high time for the conservative movement to be among the ranks of George Soros, Hansjörg Wyss, Arabella Advisors and other left-wing philanthropists".[1]
Funding
Marble Freedom Trust received $1.6 billion from CEO of electronic device manufacturer company Tripp Lite CEO Barre Seid prior to the sale of the company to the Irish company Eaton.[1]
Core Financials
2021[4]
- Total revenue: $26,601,822
- Total expenses: $184,923,907
- Net assets: $1,226,534,029
Grants Distributed
- Schwab Charitable Fund: $153,800,000
- The Concord Fund: $28,900,000
2020[5]
- Total revenue: $1,642,871,362
- Total expenses: $229,663,690
- Net assets: $1,413,208,131
Grants Distributed
- DonorsTrust: $59,100,000
- Rule of Law Trust: $153,000,000
- Schwab Charitable Fund: $59,100,000
- The Concord Fund: $16,500,000
Personnel
- Alex Marshall, CIO
- Leonard Leo, Trustee and Chairman
- Tyler Green, Administrative Trustee
- Jonathan Bunch, Successor Trustee
Contact Information
Employer Identification Number (EIN): 85-0784793
Marble Freedom Trust
915 S Silvertree Ln.
North Salt Lake, UT 84054
- Phone: (561) 563-3547
Articles and Resources
IRS Filings
2021
2020
Articles
- Rebecca Davis O’Brien, Group Tied to Influential Conservative Activist Spent $183 Million in a Year, "The New York Times", May 12, 2023.
- Andrew Perez, Andy Kroll, and Justin Elliot, How a Secretive Billionaire Handed His Fortune to the Architect of the Right-Wing Takeover of the Courts, "ProPublica", August 22, 2022.
- Kenneth P. Vogel and Shane Goldmacher, An Unusual $1.6 Billion Donation Bolsters Conservatives, "The New York Times", August 22, 2022.
- Nick Visser, Conservative Dark Money Group Gets $1.6 Billion Donation in Huge Win for the Right, "Huffpost", August 23, 2022.
References
- ↑ 1.0 1.1 1.2 1.3 1.4 1.5 Kenneth P. Vogel and Shane Goldmacher, An Unusual $1.6 Billion Donation Bolsters Conservatives, "The New York Times", August 22, 2022.
- ↑ Andrew Perez, Andy Kroll, and Justin Elliot, How a Secretive Billionaire Handed His Fortune to the Architect of the Right-Wing Takeover of the Courts, "ProPublica", August 22, 2022.
- ↑ Nick Visser, Conservative Dark Money Group Gets $1.6 Billion Donation in Huge Win for the Right, "Huffpost", August 23, 2022.
- ↑ Marble Freedom Trust,2021 IRS 990 Filing, "Marble Freedom Trust", March 15, 2023.
- ↑ Marble Freedom Trust,IRS 990 2020, "Marble Freedom Trust", 2021.
