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No Labels Misses Fundraising Goals While Execs Pocket Six-Figure Salaries

No Labels ​Falls Short of ⁢Funding for Third-Party Candidate in 2024

No Labels Misses Fundraising Goals While Execs Pocket Six-Figure Salaries
U.S. Senator Joe Manchin (D., W.V.)

The​ self-proclaimed centrist organization, No Labels, is facing a significant funding ⁢shortfall of approximately $50 million for its​ planned support of a⁢ third-party presidential candidate in 2024, according to the group’s tax filings. As reported by the Daily Beast, No ⁤Labels had only $20 million available at​ the beginning of 2023, even after paying out $1.5 million in salaries ​to its top six employees. However, the organization managed to‌ raise‍ $21.2 million ⁤in 2022, ‍almost ⁢double the previous year’s amount.

While⁣ No Labels‍ deliberates on whether ‌to endorse a third-party candidate at a convention in Dallas next April, its executives are enjoying substantial ​financial rewards. Tax records reveal that⁣ CEO Nancy ‍Jacobson received $300,000‌ in ‌2022, while co-executive directors Margaret White and⁢ Elizabeth Morrison earned $315,440⁣ and $203,975, respectively.

The‍ source ⁢of No Labels’ funding remains unknown, as the⁣ nonprofit is not obligated to disclose its donors. This lack of transparency has fueled ‍conspiracy theories on the⁤ left,⁣ as highlighted by‌ The Washington Post and The New Republic.

The current $20 million available falls far ‍short‍ of the organization’s initial promise to raise funds during⁤ this period. In September 2022, No ‌Labels’ leader stated to⁣ New ⁢York ​Times columnist David Brooks that they were prepared to spend⁣ $70 million on supporting ⁤a third-party⁣ candidate in 2024.

This statement sent Democratic operatives into a frenzy, with senior advisers ​to President Joe Biden hastily arranging‍ a meeting with No Labels in June. They accused the group of potentially acting as a ⁣spoiler for the Republican Party. Politico has ‌referred to No ​Labels⁤ as a “third-party nightmare for Democrats,” and according to Axios, the White House is‍ avoiding‍ public attacks that could give ⁢No Labels more attention.

Comparatively, No Labels’ finances pale in‌ comparison to the substantial funds held by President ⁤Biden’s campaign, which reported having over $90 million in October. Former President ⁢Donald Trump, currently leading ⁢the Republican primary field, had nearly $38 million in reserves by the end of September.

No Labels has yet to commit ‍firmly ⁣to ⁣nominating a challenger to ​Biden and ⁣the ​eventual Republican ⁣nominee. However, the organization has consistently threatened ⁢to do so if their internal polling ​indicates a desire for a third option in the upcoming November election.

Although No Labels has only secured ⁢ballot access in 12 states, they⁢ expect⁢ to expand to 16 more by the end ‌of the ‌year. The group’s preferred candidate ‍appears to be West Virginia Senator‍ Joe Manchin (D.), who has participated in several No ⁣Labels​ events ‍and recently announced he will not seek reelection. ⁤Other ⁣potential candidates include⁣ former Maryland Governor Larry Hogan (R.) and‌ former Utah Governor⁣ Jon Huntsman, who appeared ‍alongside Manchin at a No Labels event in New Hampshire last⁣ July.

Despite liberal suspicions that No Labels is secretly‌ working to ⁤reelect Trump by diverting ⁣votes from Biden, the organization’s founders have explicitly stated that their primary goal is preventing Trump⁢ from winning a second ⁣term. Jacobson, a self-proclaimed⁣ Democrat, declared⁢ in July that No Labels would abandon their ⁤project if internal polling indicated that a⁤ third-party bid would benefit Trump.

“From⁤ the beginning, we’ve ​made ‌it clear that ‌we won’t offer our ballot line if it seems ⁣like it ⁢would be a wasted vote,” she told NBC News.

What potential‍ candidate has speculations arisen about No ⁢Labels endorsing in the ​upcoming presidential ⁤election, ⁢and how does this relate to the organization’s funding shortfall?

Undermining the Democratic Party and splitting the vote, ultimately benefiting the Republican candidate in the 2024 ⁢election.

No ‍Labels, founded in ⁣2010, describes itself as ⁤a bipartisan organization aimed at promoting centrist⁤ policies⁣ and fostering cooperation between Democrats and ​Republicans. The group advocates for pragmatic solutions⁢ rather than⁢ partisan ideology. However, its recent financial⁢ troubles‌ have ​raised questions about its credibility and its ability to ⁤achieve its goals.

The funding shortfall ​is⁤ particularly ‌concerning considering No Labels’ plans‍ to support​ a third-party candidate in ​the upcoming presidential ‌election. While the organization has not ⁣announced any potential candidates,⁢ speculations have arisen that ⁣No Labels ‌may endorse West Virginia⁣ Senator Joe Manchin, known for his⁣ centrist positions⁢ and willingness to work across the aisle. ​

The⁢ tax filings of No Labels reveal a ‍discrepancy between the ‌organization’s financial situation and the lofty ⁤promises​ made by its leaders. Despite ⁣paying exorbitant salaries to its top​ executives, No Labels still finds itself significantly short ​of the necessary funds ‍to support a third-party candidate effectively. This​ raises questions about the⁤ organization’s⁤ financial management and ‍allocation‍ of⁢ resources.

Additionally, the lack of transparency surrounding No Labels’ funding sources has‍ only intensified ⁤the scrutiny it faces. Without ‌publicly disclosing its donors, the ‌organization allows‌ room for speculation and conspiracy⁤ theories. Some critics have speculated that No Labels is secretly funded by right-wing interests, while others question its true motives‌ and‍ allegiances. ⁤The ongoing debate around No ‍Labels’ third-party candidate endorsement,‍ coupled with the ⁣lack of ‌financial transparency, has cast a shadow over the organization’s operations.

The failure to ⁢secure the projected $50 million in funding is a⁢ substantial setback for No Labels. With⁢ less than half of the promised funds available, the organization will have to reassess its strategy moving forward. It remains to be seen whether No Labels will be able to​ mobilize​ the necessary resources to support a third-party candidate effectively.

The repercussions of No Labels’ funding shortfall extend beyond the organization itself.​ Democratic ​operatives and party members have voiced concerns that⁤ a⁤ third-party candidate⁣ endorsed by No⁣ Labels could divide ⁣the ⁣Democratic⁤ vote and potentially secure ⁤a victory for⁢ the⁤ Republican candidate in 2024. This ‌fear led senior ⁢advisors to President⁤ Joe⁣ Biden ⁤to urgently seek a meeting with ⁣No Labels,⁢ expressing their concerns ⁢and urging‍ caution.⁤ The meeting highlights the​ level of concern within the Democratic Party over No Labels’ plans and potential impact on the election.

As No Labels faces financial challenges and scrutiny over ⁢its intentions, its ability to promote bipartisan collaboration and pragmatic policies comes⁢ into ⁣question. Without⁢ a significant‌ influx of funds, the ​organization’s plans ⁣for a third-party candidate endorsement may not ​come to fruition. This development serves as‍ a reminder that political organizations, regardless of their proclaimed intentions, are not exempt from financial constraints and the need for transparency.‍ Whether No ⁤Labels can overcome‌ these hurdles and fulfill its mission remains to⁢ be seen, but its current funding shortfall poses ‌a significant obstacle.



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