WASHINGTON — The dark-money arm of Donald Trump’s sprawling political operation entered 2025 with $84 million in the bank, highlighting the president’s fundraising prowess and offering insight into his war chest ahead of crucial midterm elections.

Securing American Greatness, a 501(c)4 organization, raised $275 million in 2024, according to its latest tax return. It received 97 donations last year ranging in size from $2,500 to $35 million.

The group can accept donations from individuals and corporations and does not have to disclose its donors, making it a formidable — albeit opaque — fundraising operation. As a nonprofit, it files annual returns to the Internal Revenue Service. Political nonprofits don’t disclose detailed information about their spending and fundraising during an election until a year after voters go to the polls.

The organization is poised to play a major role in next year’s elections to determine control of Congress, with high stakes for the future of Trump’s legislative agenda. Those elections are approaching under a troubling backdrop for the White House as Trump’s approval ratings slide and voters express discontent with his economic agenda.

Overall, Securing American Greatness spent $191 million in 2024, including $55 million on issues advocacy advertising and $25 million for direct mail. It also made donations to other groups totaling $30 million, including $10.4 million to Send the Vote Inc., a group focused on voter registration, and $2 million to Trump Vance 2025 Transition, which laid the groundwork for his second administration.

This year, the political nonprofit spent more than $18 million on advertising, according to AdImpact. About two-thirds of the spending promoted the passage of Trump’s “One Big Beautiful Bill,” a tax and spending package. The rest went for ads in districts of 22 GOP House members, lauding them for backing the legislation.

Trump has been on a fundraising tear that’s unprecedented for a second-term president who can’t seek reelection under the Constitution, highlighting his continued grip on the Republican party. Since Election Day 2024, his super political action committee, three leadership PACs and the Republican National Committee have combined to raise more than $400 million.

Trump also raised $35 million at an April fundraiser for the National Republican Congressional Committee, which supports GOP House members, the group announced.

Building that war chest is critical with congressional elections, which are expected to be closely fought, less than a year away. The party of the incumbent president normally loses House seats during midterms, and Republicans already have only a slim hold on the chamber.

Trump has been facing new economic headwinds with voter worries about the cost of living and wage growth — affordability concerns that saw Democrats win a number of prominent state and local races in off-year November elections. Trump’s job approval versus disapproval is underwater by about 10 points, according to the RealClearPolitics average of polls.

How much Securing American Greatness raises for the midterm battle won’t be known until long after the election, but the nonprofit was a major source of cash to boost Trump in 2024. The group spent $36 million on ads in the presidential campaign that year. It also donated $52.6 million to Make America Great Again Inc., Trump’s designated super PAC, just two weeks before the election.

When it appeared during the 2024 campaign that independent presidential candidate Robert F. Kennedy Jr. would siphon supporters from Trump, Securing American Greatness formed its own super PAC arm and gave it $15 million. About $7 million of that amount was used to attack Kennedy until he suspended his long-shot campaign in August and endorsed Trump.

The nonprofit was run by Trump operatives, its tax return shows, including Taylor Budowich, who also ran Trump’s super PAC before joining his campaign in August 2024. Forward Strategies, the company of top Trump fundraiser Meredith O’Rourke, was paid $400,000 for its services. She was a director of the dark-money group until May 2024.

_____

©2025 Bloomberg L.P. Visit bloomberg.com. Distributed by Tribune Content Agency, LLC.