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Colbert Super PAC
The Colbert Super PAC (officially registered as "Americans for a Better Tomorrow, Tomorrow, Inc." and "Colbert Super PAC SHH Institute") was a United States political action committee (PAC) established by Stephen Colbert, who portrayed a character of the same name who was a mock-conservative political pundit on Comedy Central's satirical television series The Colbert Report. As a super PAC the organization could raise unlimited sums of money from corporations, unions and other groups, as well as wealthy individuals. Speaking in character, Colbert said the money would be raised not only for political ads, but also "normal administrative expenses, including but not limited to, luxury hotel stays, private jet travel, and PAC mementos from Saks Fifth Avenue and Neiman Marcus."
Colbert Super PAC reported raising over $1.22 million in their January 2012 filing with the Federal Election Commission. Colbert has been credited with increasing awareness of Super PACs through his late night television show. In April 2012, Colbert received a Peabody Award for his show's series of parody reporting about super PACs as an "innovative means of teaching American viewers about the landmark court decision" (referring to Citizens United v. FEC). On November 12, 2012, Colbert announced his intention to dissolve Colbert Super PAC, citing the death of his fictional advisor Ham Rove. On December 13, 2012, Colbert announced that he was not required to say where the entire balance of the Super PAC's funds ($773,704.83) had gone. Immediately following this, however he stated that a group called "The Ham Rove Memorial Foundation" had received an anonymous donation of $773,704.83, which it would use to support various charities.
On March 10, 2011, during a Colbert Report segment about 2012 presidential contender Tim Pawlenty's political action committee (PAC), Colbert announced the formation of his own PAC. Parodying a Pawlenty advertisement, Colbert chose to end his ad with a card saying "ColbertPAC", mocking Pawlenty's PAC. In a 2012 interview, Colbert recalled that an executive from Comedy Central then called to ask if he was serious about founding a PAC; "And they said, 'Because if you actually get a PAC, that could be trouble.' And I said, 'Well then, I'm definitely going to do it...' Because I like the idea of, why is it trouble? Everybody can do it, why can't I do it?" Colbert saw the value of this as a way to showcase the impact of the Citizens United v. FEC (2010) decision, in which the Supreme Court held that corporations have free-speech rights to spend unlimited amounts of money in support of political candidates, including political advertising.
On March 30, Colbert hosted former Federal Election Commission (FEC) Chairman Trevor Potter on the program to help him fill out the paperwork for the PAC. On April 14, Colbert revealed that Viacom, which owned Comedy Central, sent him a letter denying him permission to establish a PAC, but Colbert had Potter back on the show, who explained to Colbert and his audience that as a result of the Citizens United decision, Super PACs can be formed, which are less restrictive than regular PACs.
Colbert filed a request with the FEC asking for a media exemption to allow his then-prospective Super PAC to be promoted on The Colbert Report without being subject to normal campaign finance rules and disclosure requirements. The FEC voted 5–1 to grant The Colbert Report a limited media exemption during a June 2011 public meeting. Following the hearing, Colbert formally filed paperwork for the creation of his super PAC with the FEC secretary. The FEC approved Colbert's bid to form a super PAC on June 30, 2011.
Troubled by the fact that large corporations were not donating to his super PAC, on September 29, 2011, Potter explained that corporations prefer to remain anonymous when supporting political causes. Therefore, he helped Colbert set up in Delaware a 501(c)(4) shell corporation to which donations can be given anonymously without limit and used for political purposes, similar to American Crossroads. It was initially named the "Anonymous Shell Corporation", but according to the Delaware Secretary of State's Office the official name was changed to "Colbert Super PAC SHH Institute" on the same day.
Donations made to the shell corporation could be funneled to ColbertPAC without disclosure of the ultimate source of the donation. When Colbert asked what the difference is between this and money laundering, Potter answered, "It's hard to say."
Colbert was the sole board member of the shell corporation and initially served as president, secretary, and treasurer of his organization, whose stated purpose was to educate the public. However, the organization could legally donate to his Super PAC, lobby for legislation, and participate in political campaigns and elections, as long as campaigning is not the organization's primary purpose. Colbert's organization could legally accept unlimited funds which may be donated by anonymous donors. Since the FEC doesn't require full disclosure, Colbert likened his 501(c)(4) to a "Campaign finance glory hole": "You stick your money in the hole, the other person accepts your donation, and because it's happening anonymously, no one feels dirty!" Colbert said in September 2011 that he was looking for a billionaire donor, or in the language of Colbert, a "sugar daddy".
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Colbert Super PAC
The Colbert Super PAC (officially registered as "Americans for a Better Tomorrow, Tomorrow, Inc." and "Colbert Super PAC SHH Institute") was a United States political action committee (PAC) established by Stephen Colbert, who portrayed a character of the same name who was a mock-conservative political pundit on Comedy Central's satirical television series The Colbert Report. As a super PAC the organization could raise unlimited sums of money from corporations, unions and other groups, as well as wealthy individuals. Speaking in character, Colbert said the money would be raised not only for political ads, but also "normal administrative expenses, including but not limited to, luxury hotel stays, private jet travel, and PAC mementos from Saks Fifth Avenue and Neiman Marcus."
Colbert Super PAC reported raising over $1.22 million in their January 2012 filing with the Federal Election Commission. Colbert has been credited with increasing awareness of Super PACs through his late night television show. In April 2012, Colbert received a Peabody Award for his show's series of parody reporting about super PACs as an "innovative means of teaching American viewers about the landmark court decision" (referring to Citizens United v. FEC). On November 12, 2012, Colbert announced his intention to dissolve Colbert Super PAC, citing the death of his fictional advisor Ham Rove. On December 13, 2012, Colbert announced that he was not required to say where the entire balance of the Super PAC's funds ($773,704.83) had gone. Immediately following this, however he stated that a group called "The Ham Rove Memorial Foundation" had received an anonymous donation of $773,704.83, which it would use to support various charities.
On March 10, 2011, during a Colbert Report segment about 2012 presidential contender Tim Pawlenty's political action committee (PAC), Colbert announced the formation of his own PAC. Parodying a Pawlenty advertisement, Colbert chose to end his ad with a card saying "ColbertPAC", mocking Pawlenty's PAC. In a 2012 interview, Colbert recalled that an executive from Comedy Central then called to ask if he was serious about founding a PAC; "And they said, 'Because if you actually get a PAC, that could be trouble.' And I said, 'Well then, I'm definitely going to do it...' Because I like the idea of, why is it trouble? Everybody can do it, why can't I do it?" Colbert saw the value of this as a way to showcase the impact of the Citizens United v. FEC (2010) decision, in which the Supreme Court held that corporations have free-speech rights to spend unlimited amounts of money in support of political candidates, including political advertising.
On March 30, Colbert hosted former Federal Election Commission (FEC) Chairman Trevor Potter on the program to help him fill out the paperwork for the PAC. On April 14, Colbert revealed that Viacom, which owned Comedy Central, sent him a letter denying him permission to establish a PAC, but Colbert had Potter back on the show, who explained to Colbert and his audience that as a result of the Citizens United decision, Super PACs can be formed, which are less restrictive than regular PACs.
Colbert filed a request with the FEC asking for a media exemption to allow his then-prospective Super PAC to be promoted on The Colbert Report without being subject to normal campaign finance rules and disclosure requirements. The FEC voted 5–1 to grant The Colbert Report a limited media exemption during a June 2011 public meeting. Following the hearing, Colbert formally filed paperwork for the creation of his super PAC with the FEC secretary. The FEC approved Colbert's bid to form a super PAC on June 30, 2011.
Troubled by the fact that large corporations were not donating to his super PAC, on September 29, 2011, Potter explained that corporations prefer to remain anonymous when supporting political causes. Therefore, he helped Colbert set up in Delaware a 501(c)(4) shell corporation to which donations can be given anonymously without limit and used for political purposes, similar to American Crossroads. It was initially named the "Anonymous Shell Corporation", but according to the Delaware Secretary of State's Office the official name was changed to "Colbert Super PAC SHH Institute" on the same day.
Donations made to the shell corporation could be funneled to ColbertPAC without disclosure of the ultimate source of the donation. When Colbert asked what the difference is between this and money laundering, Potter answered, "It's hard to say."
Colbert was the sole board member of the shell corporation and initially served as president, secretary, and treasurer of his organization, whose stated purpose was to educate the public. However, the organization could legally donate to his Super PAC, lobby for legislation, and participate in political campaigns and elections, as long as campaigning is not the organization's primary purpose. Colbert's organization could legally accept unlimited funds which may be donated by anonymous donors. Since the FEC doesn't require full disclosure, Colbert likened his 501(c)(4) to a "Campaign finance glory hole": "You stick your money in the hole, the other person accepts your donation, and because it's happening anonymously, no one feels dirty!" Colbert said in September 2011 that he was looking for a billionaire donor, or in the language of Colbert, a "sugar daddy".