Staff Reports
The American Express Foundation and the Visa Foundation, two charitable organizations linked to major credit card companies, have been revealed to be funding liberal advocacy groups, according to tax filings. The foundations, which are managed by executives from the respective credit card companies, have donated millions of dollars to left-wing organizations between 2019 and 2021. Shockingly, nearly all of the individuals listed on the tax filings for the Visa Foundation are Visa Inc. executives, while the American Express Foundation is similarly controlled by American Express executives. It’s clear that these foundations are deeply intertwined with their corporate parents.
Your credit card company might be bankrolling left-wing activism https://t.co/JqRQsZw4Tb
— WND News (@worldnetdaily) November 20, 2023
The American Express Foundation received a hefty $67.9 million from American Express itself during the time period in question. Meanwhile, the Visa Foundation received an initial endowment of $191.6 million in Visa stock from Visa Europe Services in 2017, followed by an additional $195.3 million in Square stock from Visa International the following year. Although tax filings do not show any recent funding from Visa or its subsidiaries, it is evident that these foundations have been sustained through significant contributions from their corporate parents.
One recipient of grant money from the Visa Foundation is the Tides Center. In 2020, the foundation gave $300,000 to fund the Tides Center’s VC Include project, which aims to support underrepresented emerging managers in order to promote diversity and economic growth. However, the Tides Center has been involved in controversial pro-Palestinian activism, including justifying the terrorist attacks in Israel. Similarly, the American Express Foundation has also donated to the Tides Center, providing $150,000 between 2019 and 2021 for various projects related to racial equity and inclusion.
The Visa Foundation has also supported the New Venture Fund with a $500,000 donation for its Tipping Point Fund project, which provides grants to left-of-center groups. The New Venture Fund, managed by Arabella Advisors, has faced scrutiny from the attorney general of the District of Columbia over allegations of partisan activities. On the other hand, the American Express Foundation has matched the charitable donations of its employees and has donated over $121,000 to Planned Parenthood chapters across the country. Planned Parenthood, known for its abortion services, performed a staggering 374,155 abortions between 2021 and 2022, according to its annual report. The American Express Foundation has also contributed to the National Network of Abortion Funds, which supports organizations that provide financial assistance to women seeking abortions.
Other left-wing groups that have received funding from the American Express Foundation include the Anti-Defamation League, the Southern Poverty Law Center, and the American Civil Liberties Union (ACLU). These organizations have been involved in controversial actions, such as the ACLU’s support for transgender prostitutes giving people HIV and their fight to allow biological males to use female restrooms in public schools. The Southern Poverty Law Center has labeled a parents rights group as a hate organization and the Anti-Defamation League has actively campaigned to get Tucker Carlson fired from Fox News.
The Visa Foundation has also invested heavily in justice, equity, diversity, and inclusion (JEDI) initiatives. They have supported the GenderSmart Investing Summit, small business resiliency for women entrepreneurs of color, gender-diverse farmer cooperatives in India, and corporate foundations committed to racial and gender equity investing. One of their beneficiaries is PolicyLink, an organization focused on promoting racial and economic equity.
It is disheartening to see these credit card companies and their associated foundations funneling money into left-wing organizations. The connections between these companies and their foundations, as well as the controversial nature of some of the recipient groups, raise questions about the ethics and objectivity of these funding decisions. Unfortunately, neither Visa nor American Express provided a comment in response to these findings.
