The 85 Fund

Network map

19 entities, 3 recorded payments between 2 pairs, 19 recorded relationships. 74 more named entities have no recorded link and are not drawn.

Person
Organization
Company
Payment (width grows with the amount)
Recorded relationship
● a verified primary record or stored query backs it
○ reported only

Map data as a table

From	Link	To	Amount	Dates	Evidence
The 85 Fund	paid	Donors Trust Inc	$67,900,000	Jan 1, 2024	finding 150
The 85 Fund	paid	Holtzman Vogel Baran Torchinsky & Josefiak	$9,904,514	Dec 31, 2024	finding 152, finding 153
Neil Corkery	position at	The 85 Fund			finding 38, finding 65
John Eastman	associated with	The 85 Fund
Ann Corkery	participated in	The 85 Fund
Carrie L Severino	participated in	The 85 Fund
Carrie L Severino	position at	The 85 Fund
Gary Marx	participated in	The 85 Fund
Gary Marx	position at	The 85 Fund
Consovoy McCarthy	did business with	The 85 Fund
Honest Elections Project	associated with	The 85 Fund
The 85 Fund	associated with	CRC Advisors			finding 38, finding 58, finding 59
The 85 Fund	gave to	The Heritage Foundation			finding 38, finding 73
The 85 Fund	gave to	Heritage Action for America			finding 38, finding 73
The 85 Fund	gave to	Foundation for Government Accountability
The 85 Fund	associated with	Federalist Society for Law and Public Policy Studies			finding 69
The 85 Fund	gave to	Ethics and Public Policy Center
The 85 Fund	gave to	American Legislative Exchange Council
The 85 Fund	gave to	Citizens for Self-Governance
The 85 Fund	gave to	Donors Trust Inc			finding 147, finding 148, finding 150
The 85 Fund	associated with	Leonard Leo			finding 58, finding 63, finding 69

The record

a verified primary record or stored query backs the row. reported by a secondary source only.

From	To	What	Value	Date	Evidence
The 85 Fund	Donors Trust Inc	General Support	$67,900,000	Jan 1, 2024	gt990datalake-rawdata.s3.amazonaws.com

In ledgers

Role	Counterparty	Payments	Total	First to last	Finding
paid	CRC Advisors	1	$25,860,785	Dec 31, 2024	On its Form 990 for tax year 2024, THE 85 FUND (EIN 20-2466871) reported Holtzman Vogel Josefiak Torchinsky PLLC as its #2 highest-paid independent contractor at $4,952,257.00, behind CRC Advisors ($25,860,785.00).
paid	Holtzman Vogel Baran Torchinsky & Josefiak	1	$4,952,257	Dec 31, 2024	On its Form 990 for tax year 2024, THE 85 FUND (EIN 20-2466871) reported Holtzman Vogel Josefiak Torchinsky PLLC as its #2 highest-paid independent contractor at $4,952,257.00, behind CRC Advisors ($25,860,785.00).
paid	Invictus Charitable Advisors LLC	1	$3,237,000	Dec 31, 2024	On its Form 990 for tax year 2024, THE 85 FUND (EIN 20-2466871) reported Holtzman Vogel Josefiak Torchinsky PLLC as its #2 highest-paid independent contractor at $4,952,257.00, behind CRC Advisors ($25,860,785.00).
paid	Argus Insight LLC	1	$1,804,000	Dec 31, 2024	On its Form 990 for tax year 2024, THE 85 FUND (EIN 20-2466871) reported Holtzman Vogel Josefiak Torchinsky PLLC as its #2 highest-paid independent contractor at $4,952,257.00, behind CRC Advisors ($25,860,785.00).
paid	Jones Day	1	$1,721,620	Dec 31, 2024	On its Form 990 for tax year 2024, THE 85 FUND (EIN 20-2466871) reported Holtzman Vogel Josefiak Torchinsky PLLC as its #2 highest-paid independent contractor at $4,952,257.00, behind CRC Advisors ($25,860,785.00).
paid	Holtzman Vogel Baran Torchinsky & Josefiak	1	$4,952,257	Dec 31, 2024	31 nonprofits reported $24,095,666.00 in payments to Holtzman Vogel Baran Torchinsky & Josefiak as one of their five highest-paid independent contractors on 57 Form 990 returns for tax years 2011 to 2024, led by FAIR LINES AMERICA FOUNDATION INC ($6,082,023.00), THE 85 FUND ($4,952,257.00) and AMERICANS FOR PUBLIC TRUST ($1,760,711.00); IRS e-file data retrieved October 14, 2026.

Findings

On its Form 990 for tax year 2024, THE 85 FUND (EIN 20-2466871) reported Holtzman Vogel Josefiak Torchinsky PLLC as its #2 highest-paid independent contractor at $4,952,257.00, behind CRC Advisors ($25,860,785.00).
projects.propublica.org
31 nonprofits reported $24,095,666.00 in payments to Holtzman Vogel Baran Torchinsky & Josefiak as one of their five highest-paid independent contractors on 57 Form 990 returns for tax years 2011 to 2024, led by FAIR LINES AMERICA FOUNDATION INC ($6,082,023.00), THE 85 FUND ($4,952,257.00) and AMERICANS FOR PUBLIC TRUST ($1,760,711.00); IRS e-file data retrieved October 14, 2026.
gt990datalake-rawdata.s3.amazonaws.com
THE 85 FUND reported a $92,000,000 cash grant to Donors Trust on Schedule I (tax year 2022-01-01), stated purpose: "General Support".
gt990datalake-rawdata.s3.amazonaws.com
THE 85 FUND reported a $92,050,000 cash grant to Donors Trust on Schedule I (tax year 2023-01-01), stated purpose: "General Support".
gt990datalake-rawdata.s3.amazonaws.com
Ten Republican-aligned ad, mail, and media-buy vendors (Targeted Victory, Flexpoint Media, Mentzer Media, The Lukens Company, HSP Direct, Jamestown Associates, The Prosper Group, Creative Direct, Conrad Direct, CRC Advisors) form a wholesale conversion layer at the bottom of the conservative network: they collected ~$847M from 828 distinct FEC committees (2019-Mar 2026) plus ~$447M from the largest 501(c)(4)/(c)(3) conservative shops on disclosed IRS 990 contractor schedules (tax years 2013-2024), yet only one of the ten (CRC Advisors) is currently profiled in key_findings_registry.
Between January 1, 2019 and September 30, 2026, 368 federal committees reported $31,286,471.76 in 3,744 itemized Schedule B disbursements to Holtzman Vogel Baran Torchinsky & Josefiak (all 61 filed spellings; 90 memo entries of $1,221,957.46 excluded), led by NRSC ($6,260,985.09), NRCC ($5,431,731.88) and SLF PAC ($1,939,633.52); FEC processed data retrieved October 14, 2026.
fec.gov
100% of IRS-990-documented grant inflows to the Federalist Society (EIN 363235550) over tax years 2012-2024 came through donor-advised-fund sponsors, and Leonard Leo's two apex DAF vehicles (Donors Trust + The 85 Fund) supplied 72.2% of that traceable funding ($26,137,045 of $36,204,475 total)
Bradley Impact Fund disbursed $244.5M across 1,835 cash grants (2013-2024), concentrating 51.9% in its top 10 recipients and escalating Turning Point USA funding ~59x from $251K (2019) to $14.8M (2021).
exposedbycmd.org
Neil Corkery operates BELOW the 990 reporting threshold across the Leo network, bookkeeper at Marble Freedom Trust, CFO at CRC Advisors, former president of Catholic Association Foundation, former leader of The 85 Fund, and yet NEVER appears in our ein_990_officers table
propublica.org
CRC Advisors is the #1 centrality hub ($100M financial in-degree) in the 990 graph BUT only $45K in direct FEC Schedule B reporting, confirming it is paid via c4 grants, not committee disbursements
bloomberg.com
The 85 Fund's own Schedule O explicitly admits operational dependence on CRC Advisors, Leo's c4 grant-maker writes that Leo's for-profit firm IS its staff
campaignforaccountability.org
Marble Freedom Trust amended its trust agreement to eliminate donor Barre Seid's power to remove the trustee, Leonard Leo is now self-perpetuating with $1.6B and no donor oversight
propublica.org
Ten-firm Republican ad/mail/media-buy vendor oligopoly absorbs the conservative dark-money pipeline at the wholesale layer
opensecrets.org

Appears in

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