Which candidates did One Nation's money end up backing or attacking in 2022?

against John K. Fetterman (Pennsylvania Senate, about $12M, lost); against Raphael Warnock (Georgia Senate, about $12M, lost); against Cheri Beasley (North Carolina Senate, about $10.0M, won). Amounts are the donor's share of each group's spending.

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Donor

One Nation

Dark money

Virginia

9 gifts to 1 group, as reported to the FEC by the groups that received them.

Mixed

One Nation gave $75M to super PACs and other outside groups in the 2022 federal elections, and 98% of it helped Republicans (FEC filings through Dec 31, 2022). Counting dollars, not candidates, and only races already called, 42% ended up on the winning side ($27M won, $37M lost).

Nonprofit tied to the Senate Leadership Fund. It does not disclose its donors.

Gave to outside spenders

$75M

98% of it helped Republicans

Ended up on the winning side

42%

$27M of the dollars in races already called

Spent on the losing side

$37M

Not spent yet

$11M

Sitting with groups that have not spent

Where the trail ends

What the IRS sees

One Nation is a 501(c)(4) social welfare group based in Haymarket, VA. It files a Form 990 with the IRS every year that shows how much money it moves, but never who gave it. That is the whole point of routing money this way.

IRS filings on ProPublica →

Revenue, 2023

$67M

from donors it does not have to name

Spent, 2023

$14M

Assets at year end, 2023

$61M

Tax year	Revenue	Spent	Assets	Filing
2023	$67M	$14M	$61M	990 PDF
2022	$125M	$156M	$8.2M	990 PDF
2021	$65M	$37M	$39M	990 PDF
2020	$172M	$196M	$12M	990 PDF
2019	$49M	$21M	$36M	e-file
2018	$58M	$64M	$6.9M	990 PDF
2024	filed, not yet digitised			990 PDF

The $75M it gave to super PACs in 2022 is 112% of what it took in during 2023, its latest year on file. The 990 lists what it spent on politics in a single line and leaves every donor blank.

One Nation also bought $11M of Google and YouTube ads under its own name this cycle. All ad buyers →

Where the cheques went

A nonprofit that does not have to say where its own money came from. The trail ends here. Each gift is split the way the group that received it split its spending between winners and losers, so a $10M cheque to a group that spent 80% on losers counts as $8M on the losing side.

✓ Backed the winner or attacked the loser ✗ Backed the loser or attacked the winner Result not matched

Group	Gave	How the group spent it	Won / lost
Senate Leadership Fund $11M not spent yet	$75M		$27M / $37M

The trail

What the money bought

The candidates One Nation's money was spent for or against, pro-rated by One Nation's share of each group's funding.

Candidate	Race	Spending	Their share	Paid off?
John K. Fetterman	Pennsylvania Senate	Attacking	$12M	✗ No
Raphael Warnock	Georgia Senate	Attacking	$12M	✗ No
Cheri Beasley	North Carolina Senate	Attacking	$10.0M	✓ Yes
Tim Ryan	Ohio Senate	Attacking	$8.5M	✓ Yes
Mandela Barnes	Wisconsin Senate	Attacking	$6.8M	✓ Yes
Catherine Cortez Masto	Nevada Senate	Attacking	$6.7M	✗ No
Donald C. Bolduc	New Hampshire Senate	Supporting	$2.4M	✗ No
Herschel Junior Walker	Georgia Senate	Supporting	$2.3M	✗ No
Maggie Hassan	New Hampshire Senate	Attacking	$1.8M	✗ No
Kelly C. Tshibaka	Alaska Senate	Attacking	$1.6M	✓ Yes
Kathy Salvi	Illinois Senate	Supporting	$7K	✗ No
David Perdue	Georgia Senate	Supporting	$1K	Unknown

Dark money as classified from the FEC entity type and public reporting.

Questions people ask

How much did One Nation spend on the 2022 elections, and did it win?: One Nation gave $75M to super PACs and other outside groups in the 2022 federal elections, and 98% of it helped Republicans (FEC filings through Dec 31, 2022). Counting dollars, not candidates, and only races already called, 42% ended up on the winning side ($27M won, $37M lost).
Which super PACs did One Nation fund in 2022?: Senate Leadership Fund ($75M).
Which candidates did One Nation's money end up backing or attacking in 2022?: against John K. Fetterman (Pennsylvania Senate, about $12M, lost); against Raphael Warnock (Georgia Senate, about $12M, lost); against Cheri Beasley (North Carolina Senate, about $10.0M, won). Amounts are the donor's share of each group's spending.