GOP nonprofit disclosure push could expose more details on Trump-linked Freedom 250

Republican efforts to tighten disclosure around fiscal sponsorships (charity-hosted projects without separate tax-exempt status) could end up sweeping in Freedom 250, the Trump-linked entity created for America’s 250th anniversary events. The National Park Foundation, a congressionally chartered nonprofit that raises money for the National Park Service, set up Freedom 250 as a Delaware limited liability company in October 2025 instead of creating a separate charity. While the foundation received roughly $90 million in federal dollars for the celebration, Freedom 250 also sought seven-figure corporate donations without filing standalone public financial disclosures. Because Freedom 250 is described by the foundation as a wholly owned subsidiary, it files no tax return of its own and money raised in its name legally belongs to the National Park Foundation. Experts told CBS News that current rules require a charity to disclose ownership of such an entity, but not a project-level breakdown of how much it raised, spent or who managed it. Republicans on the House Ways and Means Committee advanced legislation last week that would require charities to report details of fiscal sponsorship arrangements on tax returns and impose a 20% tax on funds deemed improperly routed through them, rising to 100% if not corrected. Nonprofit lawyers and sector advocates say the proposal could capture a much wider range of arrangements than intended. Treasury Secretary Scott Bessent backed the bill, saying it aligns with Treasury’s push for stronger transparency and tax administration. Separately, Treasury said in late April 2026 that the IRS plans to revise Form 990, the annual return filed by tax-exempt groups, to require clearer reporting on government grants, contracts and fiscal sponsorship arrangements. The disclosure debate has also highlighted questions over who controls Freedom 250. Corporate filings reviewed by CBS News list Ruth Prescott, the executive vice president and chief governance officer of the National Park Foundation, as its beneficial owner, while Interior Secretary Doug Burgum told Congress in May he was not aware of the final decision maker and later told CNN the group was run out of the White House. National Park Foundation president and CEO Jeff Reinbold testified in February that the foundation created Freedom 250 at the request of the National Park Service. Freedom 250 has hosted high-profile events ahead of the 250th celebration, including a concert series, a Great American State Fair on the National Mall and a UFC mixed martial arts event on the South Lawn of the White House in June. A fundraising solicitation offered donors giving at least $1 million invitations to a private reception hosted by Mr. Trump and those giving at least $2.5 million speaking roles at a July 4 celebration. The foundation said there have been no foreign or individual donors to Freedom 250, and that most corporate sponsors are listed publicly, including Chevron, Boeing, ExxonMobil and Mastercard.