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... As the centrist group No Labels gears up to launch a 2024 third-party presidential bid"potentially spearheaded by Sen. Joe Manchin (D-WV)"the nonprofit has declined to share virtually any information about who is supporting its ambitious challenge and how those funds are being spent.
There may be a good reason for that.
According to its most recent annual 990 tax form obtained by The Daily Beast, No Labels is flush with cash. It raised $21.2 million in 2022, a huge jump from the $11.3 million it raised in 2021, per the 990 that was reported by Politico last December. The group ended 2022 with about $20 million in the tank.
With that haul, No Labels could aim to make noise in the 2024 race, as the group insists it will. What they may prefer to keep quiet, however, are the lucrative paydays being doled out to the No Labels' leadership team, which appear in the tax documents.
Nancy Jacobson, the group's CEO, did not receive any salary in 2021, according to the 990 for that year. But the latest federal tax form shows Jacobson pulled in $300,000 last year.
The disgraced campaign journalist Mark Halperin"who was fired for alleged sexual harassment in 2017"has served as a "chief strategist" for No Labels. He got a nearly $100,000 raise, going from a salary of $240,753 in 2021 to $336,879 in 2022. (No Labels Spokesperson Maryanne Martini noted Halperin left the group earlier this year.)
Then there are the co-executive directors, with Margaret White making $315,440 for No Labels last year and Elizabeth Morrison taking home $203,975. The next highest earners were Megan Shannon at $160,833 for her work as the VP of development and McKinley Scholtz, the deputy director, at $134,723.
All told, No Labels' top six officials pulled in $1.5 million in salary"averaging just over $240,000 per person"amounting to about half what the group spent on efforts for its candidate to qualify for the ballot next year.
"This 990 shows a striking jump in revenue for No Labels last year, and with it, substantial raises for No Labels officials," Brendan Fischer, the deputy director of the watchdog group Documented, told The Daily Beast upon reviewing the document. ...