This morning, Americans for Public Trust (APT) filed a complaint with the Federal Election Commission (FEC) against Patagonia’s dark money network, Holdfast Collective and Holdfast Trust, for misidentifying tens of thousands of dollars in political contributions.
“It is unacceptable that a for-profit company posed as a donor to mask a network of nonprofit organizations working to quietly influence our political system,” said Caitlin Sutherland, APT executive director. “By misrepresenting the source of the donations, Holdfast is trying to hide its true organizational structure that operates as a $1.7 billion ATM for liberal groups.”
Click here to read reporting on the FEC complaint.
Click here to read the FEC complaint.
Background:
- FEC filings show that in 2022 the Holdfast Collective donated nearly $200,000 to various Super PACs that are dedicated to electing Democrats. However, 2022 tax filings reveal the contributions originated from the Holdfast Trust & Chalten Trust, two separate nonprofits under the Holdfast Collective umbrella.
- The discrepancies in the filings suggest the two nonprofits executed the political contributions under the guise of the Holdfast Collective in the FEC filings.
- The Holdfast Collective is also registered as a for-profit LLC- Four Seas LLC that manages five nonprofits: the Holdfast Trust, Chalten Trust, Sojourner Trust, Wilder Trust, & Tail Wind Trust.
- Since 2022, the five groups have collectively funneled more than $71 million to left-wing campaigns.
- Patagonia’s founder, Yvon Chouinard relinquished ownership of Patagonia to ensure profits were allocated entirely towards climate campaigns & initiatives by establishing a web of & LLCs to “protect the independence of [Patagonia]” while spreading its profits through the Holdfast Collective.
