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Marble Freedom Trust

Tax-Exempt Status:

501(c)(4)

Founded:

2020
Founder:

Leonard Leo

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The Marble Freedom Trust is a right-of-center organization founded in 2020 by Leonard Leo, a conservative legal activist and former executive vice president of the Federalist Society. Its largest known source of funding came from a donation of company shares by Barre Seid, an electronics manufacturing mogul, that were later sold by Marble for $1.6 billion. 1

Background

Marble Freedom Trust is a conservative organization founded in 2020 by former Federalist Society executive vice president Leonard Leo. 2

Marble Freedom Trust was organized as a trust rather than as a corporation. This means it does not have to disclose as many details about financials, location, and personnel. 3

At the end of April 2021, Marble Freedom Trust had more than $1.4 billion in assets. 4

Funding

Barre Seid, the former chairman and CEO of electronics manufacturer Tripp Lite, is the largest known contributor to Marble Freedom Trust. 5 The New York Times reported in August 2022 that he had given an “unusual $1.6 billion donation” to Marble. 6

The donation was somewhat indirect. In 2021, Barre Seid gave 100 percent of Tripp Lite shares to Marble Freedom Trust. Marble Freedom Trust sold the shares for Tripp Lite to Eaton Corporation, an Irish conglomerate, taking the proceeds. 7 This allowed Seid to avoid paying as much as $400 million in capital gains taxes than if he had sold the company directly to a private buyer, increasing the effective size of his gift to Marble. 8 9

Marble Freedom Trust did not publicly say who bought the company. But it was purchased on March 17, 2021, according to the tax form; that same day, Securities and Exchange Commission (SEC) documents show that Eaton acquired Tripp Lite for $1.65 billion. 10

Expenditures

As of August 2022, Marble Freedom Trust was known to have donated about $200 million to other conservative organizations. 11

The trust contributed $153 million to the Rule of Law Trust, a conservative legal nonprofit that is also led by Leo. 12

Marble Freedom Trust contributed $41.1 million to Donors Trust, a donor-advised fund that awards money to various conservative and libertarian groups as well as nonpolitical organizations. 13

The group gave $16.5 million to the Concord Fund, a nonprofit that supports conservative judicial nominees that is affiliated with the Judicial Crisis Network. 14

Marble Freedom Trust also gave $18 million to Schwab Charitable Fund, another donor-advised fund. 15

Leadership

Leonard Leo is a member of the board of trustees for Marble Freedom Trust. 16 As executive vice president of the Federalist Society, he played a significant role in helping to select a list of potential Supreme Court nominees for presidential candidate Donald Trump. Leo is listed as earning $350,000 annually from the Marble Freedom Trust for 25 hours of work per week for the group. 17

Tyler Green is a member of the board of trustees for Marble Freedom Trust. Listed as the “administrative trustee,” his home address in North Salt Lake, Utah is listed as the address for the organization. Green is a former Utah solicitor general. He has represented the Republican National Committee in election-related lawsuits. Green is a former law clerk for Supreme Court Justice Clarence Thomas. 18

Jonathan Bunch is a member of the board of trustees for Marble Freedom Trust. Bunch is a former Federalist Society vice president. He is listed as the group’s successor trustee. 19

References

  1. Vogel, Kenneth P. and Goldmacher, Shane. “An Unusual $1.6 Billion Donation Bolsters Conservatives.” The New York Times. August 22, 2022. Accessed October 1, 2022. https://www.nytimes.com/2022/08/22/us/politics/republican-dark-money.html
  2. Vogel, Kenneth P. and Goldmacher, Shane. “An Unusual $1.6 Billion Donation Bolsters Conservatives.” The New York Times. August 22, 2022. Accessed October 1, 2022. https://www.nytimes.com/2022/08/22/us/politics/republican-dark-money.html
  3.  Perez, Andrew; Kroll, Andy; and Elliott, Justin. “How a Secretive Billionaire Handed His Fortune to the Architect of the Right-Wing Takeover of the Courts.” Pro Publica. August 22, 2022. Accessed October 1, 2022. https://www.propublica.org/article/dark-money-leonard-leo-barre-seid
  4.  Tolan, Casey; Devine, Curt and Griffin, Drew. “Massive dark money windfall: New conservative group got $1.6 billion from single donor.” CNN. August 22, 2022. Accessed October 1, 2022. https://www.cnn.com/2022/08/22/politics/dark-money-donation-conservative-group-invs/index.html
  5. Tolan, Casey; Devine, Curt and Griffin, Drew. “Massive dark money windfall: New conservative group got $1.6 billion from single donor.” CNN. August 22, 2022. Accessed October 1, 2022. https://www.cnn.com/2022/08/22/politics/dark-money-donation-conservative-group-invs/index.html
  6. Vogel, Kenneth P. and Goldmacher, Shane. “An Unusual $1.6 Billion Donation Bolsters Conservatives.” The New York Times. August 22, 2022. Accessed October 1, 2022. https://www.nytimes.com/2022/08/22/us/politics/republican-dark-money.html
  7. Vogel, Kenneth P. and Goldmacher, Shane. “An Unusual $1.6 Billion Donation Bolsters Conservatives.” The New York Times. August 22, 2022. Accessed October 1, 2022. https://www.nytimes.com/2022/08/22/us/politics/republican-dark-money.html
  8. Editorial Board. “A $1.6 billion donation lays bare a broken campaign finance system.” The Washington Post.  August 28, 2022. Accessed October 1, 2022. https://www.washingtonpost.com/opinions/2022/08/28/leonard-leo-donation-campaign-finance/
  9. Perez, Andrew; Kroll, Andy; and Elliott, Justin. “How a Secretive Billionaire Handed His Fortune to the Architect of the Right-Wing Takeover of the Courts.” Pro Publica. August 22, 2022. Accessed October 1, 2022. https://www.propublica.org/article/dark-money-leonard-leo-barre-seid
  10.  Tolan, Casey; Devine, Curt and Griffin, Drew. “Massive dark money windfall: New conservative group got $1.6 billion from single donor.” CNN. August 22, 2022. Accessed October 1, 2022. https://www.cnn.com/2022/08/22/politics/dark-money-donation-conservative-group-invs/index.html
  11. Tolan, Casey; Devine, Curt and Griffin, Drew. “Massive dark money windfall: New conservative group got $1.6 billion from single donor.” CNN. August 22, 2022. Accessed October 1, 2022. https://www.cnn.com/2022/08/22/politics/dark-money-donation-conservative-group-invs/index.html
  12.  Tolan, Casey; Devine, Curt and Griffin, Drew. “Massive dark money windfall: New conservative group got $1.6 billion from single donor.” CNN. August 22, 2022. Accessed October 1, 2022. https://www.cnn.com/2022/08/22/politics/dark-money-donation-conservative-group-invs/index.html
  13.  Tolan, Casey; Devine, Curt and Griffin, Drew. “Massive dark money windfall: New conservative group got $1.6 billion from single donor.” CNN. August 22, 2022. Accessed October 1, 2022. https://www.cnn.com/2022/08/22/politics/dark-money-donation-conservative-group-invs/index.html
  14.  Tolan, Casey; Devine, Curt and Griffin, Drew. “Massive dark money windfall: New conservative group got $1.6 billion from single donor.” CNN. August 22, 2022. Accessed October 1, 2022. https://www.cnn.com/2022/08/22/politics/dark-money-donation-conservative-group-invs/index.html
  15. Tolan, Casey; Devine, Curt and Griffin, Drew. “Massive dark money windfall: New conservative group got $1.6 billion from single donor.” CNN. August 22, 2022. Accessed October 1, 2022. https://www.cnn.com/2022/08/22/politics/dark-money-donation-conservative-group-invs/index.html
  16. [1] Tolan, Casey; Devine, Curt and Griffin, Drew. “Massive dark money windfall: New conservative group got $1.6 billion from single donor.” CNN. August 22, 2022. Accessed October 1, 2022. https://www.cnn.com/2022/08/22/politics/dark-money-donation-conservative-group-invs/index.html
  17. Tolan, Casey; Devine, Curt and Griffin, Drew. “Massive dark money windfall: New conservative group got $1.6 billion from single donor.” CNN. August 22, 2022. Accessed October 1, 2022. https://www.cnn.com/2022/08/22/politics/dark-money-donation-conservative-group-invs/index.html
  18. Tolan, Casey; Devine, Curt and Griffin, Drew. “Massive dark money windfall: New conservative group got $1.6 billion from single donor.” CNN. August 22, 2022. Accessed October 1, 2022. https://www.cnn.com/2022/08/22/politics/dark-money-donation-conservative-group-invs/index.html
  19. [1]Tolan, Casey; Devine, Curt and Griffin, Drew. “Massive dark money windfall: New conservative group got $1.6 billion from single donor.” CNN. August 22, 2022. Accessed October 1, 2022. https://www.cnn.com/2022/08/22/politics/dark-money-donation-conservative-group-invs/index.html
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