At this point, it might be wiser for the National Organization for Marriage and the Mormon Church to just declare themselves for-profit enterprises. Sure, they’d be subject to income and payroll taxes, but thanks to the just-declared 5-4 Supreme Court ruling that tossed out a 63-year-old campaign finance law, corporations (and unions) are now exempt from spending limits on advertising to support individual political candidates. (They still have caps on how much they can contribute directly to campaigns.) That means television ad spending is gonna be bananas during election season! “The decision’s most immediate effect is to permit corporate and union-sponsored political ads to run right up to the moment of an election, and to allow them to call for the election or defeat of a candidate,” relays the AP. “In presidential elections and in highly contested congressional contests, that could mean a dramatic increase in television advertising competing for time and public attention.”
Which means if NOM ditched its 501(3)(c) status — which it allegedly abuses anyhow — they could funnel all the cash they wanted to the Scott Browns of America without the threat of having to reveal their donors. And then maybe, one day, Maggie Gallagher & Co. could go public and we could be giving shares of NYSE:NOM as stocking stuffers.
UPDATE: We didn’t read the ruling carefully enough, and as a commenter notes, the ruling applies to non-profits as well. Which means NOM and LDS can keep their non-profit standings and still donate all it wants to political campaigns. Huzzah!