The largest charitable foundation in the United States has discreetly ended its financial support for a nonprofit network closely tied to the Democratic Party and often criticized by conservative groups, marking a notable shift in the landscape of progressive philanthropy.
In late June, the Gates Foundation halted its grants to nonprofit funds managed by the consulting firm Arabella Advisors, as revealed in an internal communication within the foundation.
This move, attributed to the foundation's CEO Mark Suzman, has caused concern among progressive philanthropic circles. Several nonprofits affiliated with Arabella are reportedly distancing themselves from the firm to maintain favorable relations with the Gates Foundation, which predominantly funds global health initiatives.
Besides consulting for nonprofits and philanthropists, Arabella Advisors manages several so-called 'dark money' funds that back Democratic candidates and progressive causes.
The financial stakes are significant for the organizations that receive funding through these channels. Over the past sixteen years, the Gates Foundation has provided or pledged roughly $450 million to nonprofit funds overseen by Arabella, making it one of the earliest and largest supporters of these groups.
The foundation's internal memo, dated June 24 and circulated among grant program staff, did not cite political reasons for the funding change. Instead, it emphasized a strategic shift toward engaging more directly with grant recipients and reducing reliance on intermediaries like Arabella-managed entities.
0 Comments
No comments yet. Be the first to comment!