Ex-Hedge Funder Won't Be Giving ACLU His Usual $20 Million This Year

Craig Romero ACLU

A long-time donor for the A.C.L.U. won’t be making his usual gift this year —  a gift that made up 25% of the civil liberties group’s budget.

Stephanie Strom of The New York Times: Anthony D. Romero, executive director of the A.C.L.U., acknowledged in a written statement that a “family” had told the organisation in September that it could not make its annual gifts, at least for next year.

“This family, that has sought to protect its privacy by arranging its gifts anonymously, notified us last month that due to market conditions it will be unable to make its expected sizable donations of over $20 million,” Mr. Romero said.

Sources inside the A.C.L.U identified the donor as David Gelbaum, an ex-hedge funder now best known for his major investments in clean technology. Gelbaum did not confirm he is the donor.

Other donors have stepped up to fill the hole by giving $23 million over the next several years, but those funds have to be shared with affiliates, the NYT said. The ACLU may have to cut its budget and consider invading its reserve funds, Romero said.

Strom’s full article, with additional background on Romero, is here.

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