Social Advocacy Organizations (U.S., NAICS 81331): An Investor's Primer

1. Overview

NAICS 81331 — "Social Advocacy Organizations" — is the federal statistical home for America's cause groups: the nonprofits that promote a position, protect a constituency, or fight for (or against) a policy. NAICS is the North American Industry Classification System, the U.S. government's standard scheme for sorting establishments by activity. This industry rolls up three child industries that most people would never file in the same folder but that share one economic DNA — human-rights and civil-liberties groups (813311), environment/conservation/wildlife groups (813312), and everything else from gun-rights to gun-safety to anti-drunk-driving to taxpayer associations (813319). Household names inside the level run from AARP, the American Civil Liberties Union (ACLU) and Amnesty International to The Nature Conservancy, the Sierra Club and Ducks Unlimited to the National Rifle Association (NRA) and Mothers Against Drunk Driving (MADD) [1].

The single most important thing to understand before you read another line: this is not a stock-market sector. Essentially every establishment here is a tax-exempt nonprofit — a 501(c)(3) charity, a 501(c)(4) social-welfare group, or the two paired together. There are no shares, no tickers, no dividends, and no owners who can pull profit out. You cannot buy a piece of the Sierra Club the way you buy a share of a bank. So "investing" in this level means one of two things, and this primer serves both audiences throughout:

• Public-market investors get only indirect exposure — through the for-profit vendors that sell software, payments and services to these groups, and (uniquely in the conservation child) through the environmental-services firms and green-finance instruments that the cause creates demand for.
• Private investors and philanthropists deploy capital into the operators themselves, where the "return" is mission impact plus a tax deduction — via donations, donor-advised funds, foundation grants, and below-market program-related investments, not equity.

Measured as a business, the whole level is a roughly $48 billion, 215,000-employee, 17,000-firm field [2][3]. Measured as a movement, it moves far more money, volunteers and influence than any industry code can capture. The distinctive value of reading it as a rollup is the contrast across the three children — they differ sharply in size, growth direction, concentration, and, above all, in how (and whether) an outsider can get financial exposure.

2. What's inside — the three children and how they differ

The level splits into three named industries. They are close cousins in legal form and funding model but genuinely different in scale, momentum, and investability. The contrast table is the heart of this primer:

Concentration figures: Economic Census 2022; HHI is the Herfindahl-Hirschman Index, a 0–10,000 gauge where higher means more concentrated [3a][3b][3c]. Shares of the level are computed from the child receipts against the level total.

Read across the table and three contrasts jump out.

1. Environment is the plurality on every physical measure — most receipts, most employees, second-most firms — while Human Rights is the smallest by headcount but the most concentrated, because a single organization (AARP) is large enough to bend the whole child's statistics. Revenue per firm bears this out: ~$4.2 million in Human Rights versus ~$2.6 million (Environment) and ~$2.3 million (Other Social Advocacy).
2. The children point in different directions. All three share a nonprofit chassis, but their near-term momentum diverges by what shock hit them: foreign-aid cancellations for internationally focused human-rights groups, climate-grant freezes for conservation, and the election/news cycle for the "other" bucket. There is no single sector trend — there are three.
3. Only one child has a deep for-profit adjacency. This is the sharpest investable contrast. Conservation demand flows into a real, cash-flowing private industry — environmental engineering, remediation, mitigation banking, forest carbon, conservation finance. Human-rights and "other" advocacy offer public investors little beyond the shared nonprofit-software vendors. If you are hunting for a listed way to ride this level, it lives almost entirely in the environment child.

The rest of the primer treats the level as a whole; keep this table in mind, because most "sector-level" statements are really weighted averages of three quite different things.

3. How big it is (the level's rollup)

Our ground-truth federal figures for NAICS 81331:

County Business Patterns (CBP) is the Census Bureau's employer-establishment program; the Economic Census (EC) is its five-year business census. The three children sum cleanly into these totals — establishments, employment and payroll add up exactly, and receipts and firm counts match within rounding — so the rollup is arithmetically clean, not an estimate [2][3][3a][3b][3c]. Pay varies by child: conservation staff average roughly $59,000 (more field, education, and seasonal roles), while human-rights and "other" advocacy average ~$70,000+ (more lawyers, researchers, and lobbyists).

The U.S. Small Business Administration (SBA) sets its "small" size standard per 6-digit industry, and here it ranges from $18 million (Other Social Advocacy) to $19.5 million (Environment) to $34 million (Human Rights) in average annual receipts [6]. There is no single level-wide standard; the great majority of the ~17,000 firms fall under whichever applies to them.

The undercount caveat — read this before quoting "$48 billion" as "the sector." These are federal business statistics for tax-exempt establishments, and they understate the true footprint of American advocacy in several directions:

• Employer-only coverage. CBP counts only establishments with paid employees; it excludes volunteer-only chapters, informal coalitions, and non-employer groups [4]. Census Nonemployer Statistics, which would catch some of them, excludes nonprofits because they generally don't file the business income-tax returns that program relies on [5]. In a field built on volunteers and small "friends of" groups, this is a large blind spot — the conservation child alone sits atop roughly 950 member land trusts and 250,000 volunteers that barely register in payroll data [32].
• Government is off-frame — and it is the elephant. In conservation especially, the largest actor by dollars and acres is the public sector (federal, state, tribal, local agencies), which is not a "business" and not in this industry [4]. The receipts line captures private advocacy, not the far larger public conservation and civil-rights enterprise.
• Adjacent codes carve out real activity. Human-rights litigation is booked in Legal Services (NAICS 5411), labor advocacy in 81393, high-dollar electioneering in Political Organizations (813940), and member-benefit clubs in Civic and Social Organizations (813410). Much of what the public calls "advocacy" is counted next door.
• The top of the revenue line blurs. The single biggest reported operator, AARP (~$1.7 billion), earned roughly $1.1 billion of that from royalties for licensing its brand to insurers — activity that looks more like licensing than advocacy, yet inflates the human-rights receipts line and thus the level [13].

Our federal file does not include industry-wide profit, donation-source mix, volunteer counts, donor-retention rates, or growth forecasts; none is invented here. Treat "receipts" as measured business revenue for the employer-nonprofit core, not as total funding for the causes.

4. Investable universe — where value concentrates across the children

There is no public-equity pure-play anywhere in NAICS 81331 — no tickers, no share prices, no dividends among the operators, because the operators are nonprofits. What exists is three concentric rings, and the useful rollup insight is that the rings are deepest in the conservation child.

Ring 1 — the operators (who's big, not what's buyable). These are the brands that define the level; revenue figures are recent annual reports / IRS Form 990 filings. Note how the leaders in each child are different organizations — which is exactly why rolling them up dilutes concentration (Section 8):

• Human Rights: AARP (~$1.7B), ACLU (~$383M budget), Southern Poverty Law Center (~$170M revenue; ~$749M endowment), Human Rights Watch (~$78M), Amnesty USA (~$63M) [13][3a].
• Environment: The Nature Conservancy (~$1.8B), World Wildlife Fund–US (~$540M), Wildlife Conservation Society (~$346M), Ducks Unlimited (~$333M), Environmental Defense Fund (~$299M), NRDC (~$204M) [16][17].
• Other Social Advocacy: NRA (~$174M, down from $353M in 2018), MADD (~$37M), Everytown for Gun Safety (~$35–55M by entity), plus ~1,000 local Community Action Agencies [20][21].

Ring 2 — the shared nonprofit-tech vendors (the common public proxy). Every child buys fundraising, donor-management and payments software from the same handful of firms, so these are the one listed exposure common to the whole level. They are diluted proxies — nonprofits are a slice of their business, and advocacy a slice of that:

Ring 3 — the private owners of the vendor layer (where PE actually plays). Private equity has rolled up the software these groups depend on: Bonterra (Apax Partners; EveryAction, NGP VAN, Mobilize, Network for Good), Bloomerang (Warburg Pincus, JMI Equity; added Qgiv, InitLive), Benevity (Hg, TPG Rise Fund, General Atlantic; corporate giving), and GoFundMe/GoFundMe Pro (acquired Classy) [27][28][29][35].

The conservation exception — the extra ring. Only the environment child adds a genuine for-profit demand adjacency and a set of buyable capital instruments:

• Environmental-service equities — Tetra Tech (TTEK), AECOM (ACM), Stantec (STN), Waste Management (WM), Clean Harbors (CLH): consulting, remediation, water, restoration, waste — the businesses conservation and environmental compliance create demand for [30].
• Green / sustainability bonds — conservation groups and agencies issue fixed income earmarked for land, water and biodiversity (e.g., The Conservation Fund's $150M taxable green bond) [31].
• Private niches — wetland and endangered-species mitigation banking, forest-carbon developers, and conservation-finance / impact funds that recycle capital for a modest return plus impact [31].

The real financial leverage in Rings 1 across all three children: funders. Because there are no shareholders, the parties with the most power over the operators are the grant-making foundations and large donors — Ford, Open Society, MacArthur — and, until 2025, the U.S. government. That government dependence is precisely what turned into a crisis this year (Sections 7 and 9).

5. How the money works

Nonprofits don't earn "profit"; they run a surplus (revenue minus expenses) that builds net assets — operating reserves and, for the biggest, an endowment. No one can extract cash, so the financial game is identical across all three children: raise more than you spend, keep fundraising efficient, and compound reserves so the mission survives lean years. Money comes in through roughly the same five channels everywhere, though the mix differs sharply by child:

• Individual contributions and membership dues — the workhorse. Dues-dependence is a double edge: the NRA's dues fell to a 16-year low as membership dropped to ~3.8 million, roughly halving its revenue since 2018 [20].
• Foundation and major-donor grants — large, multi-year, and a source of donor-concentration risk.
• Government grants and contracts — the line that most differentiates the children. Near-zero for pure domestic advocacy; large for internationally focused human-rights groups (State/USAID), habitat-delivery conservation (Ducks Unlimited booked ~$177M of government-partnership habitat revenue in FY2024 [17]), and service-delivering "other" advocates (MADD ~30% government; community-action agencies run largely on the federal Community Services Block Grant) [21][23]. This is the line the 2025–26 cuts hit.
• Program-service revenue — research, training, events, publications, licensing, easement-stewardship fees, and (in conservation) carbon-credit sales. Regularly conducted commercial activity unrelated to the exempt purpose can trigger unrelated business income tax (UBIT).
• Investment / endowment income — a large endowment (SPLC's ~$749M) throws off ~4–5% a year and buys independence from the donation cycle.

The metrics donors and mission-investors actually watch (all pulled from the public Form 990 and audited statements): the program-expense ratio (share of spending on mission vs. overhead — useful but weak alone, since advocacy and litigation are legitimately expensive); cost to raise a dollar; donor and member retention (the closest thing to recurring revenue); months of operating reserve / unrestricted liquidity (watch the restricted-fund trap — a restricted grant can't cover payroll); endowment size and payout; and revenue concentration (reliance on one funder or one government program is the single biggest fragility). Conservation adds a mission-specific gauge — cost per acre conserved — the field's answer to "unit economics."

For the vendor investor, ordinary software metrics apply instead: annual recurring revenue (ARR), net revenue retention, gross margin, payment volume and take rate, customer-acquisition-cost payback, free cash flow, leverage, and acquisition discipline.

6. What drives demand

"Demand" here means the flow of donations, dues, grants and campaign spending — and across all three children it is issue-driven, event-dependent, and often counter-cyclical to the political mood, not tied to a consumer product:

• Issue salience and the news cycle. A mass shooting drives giving to gun-rights and gun-safety groups; a rollback of environmental rules or civil-liberties protections drives "rage giving." After the 2016 election the ACLU took in $79 million in three months [14]. Revenue is lumpy and event-triggered.
• "Threat-based" giving. Donations to a cause spike when the opposing side holds power — a hostile political environment is paradoxically a demand tailwind for domestic advocacy, even as it is an existential threat to groups dependent on the government it opposes.
• The political calendar. Election years supercharge 501(c)(4) issue advocacy; undisclosed-donor ("dark money") groups poured a record ~$1.9 billion into 2024 federal races [22].
• Household wealth and markets. Giving tracks income and the stock market. Total U.S. charitable giving reached ~$592.5 billion in 2024, with giving to "environment and animals" up 7.7% to a record ~$21.6 billion [12]. Rising markets and household wealth expand the whole pool.
• Government co-funding and appropriations cycles. Federal and state programs multiply private dollars — the Land and Water Conservation Fund ($900M/yr) for conservation, the Community Services Block Grant for community action — making the budget cycle a direct demand lever for grant-funded groups [18][23].
• Demographics and emerging issues. AARP rides a structurally aging population; surveillance, artificial intelligence, migration, climate resilience, and carbon markets keep opening new fronts.

The structural point: demand for advocacy is durable in aggregate, but it rotates violently among issues and children, and the groups that survive rotation are those with diversified, flexible funding rather than a single foundation, government program, or dues base.

7. Regulation

The whole level is governed not by an industry regulator but by federal tax law plus disclosure and campaign rules — the same frame across all three children:

• IRS tax-exempt rules. 501(c)(3) charities get tax-deductible donations but face an absolute ban on partisan campaign work and a cap on lobbying ("no substantial part," or a bright-line spending cap under the optional 501(h) election starting at 20% of the first $500,000 of expenditures). 501(c)(4) social-welfare groups may lobby without limit and do some partisan work, but donations to them are not deductible — which is why most large brands run a paired (c)(3)/(c)(4) structure [7][8][11]. Mismanaging that line is the sector's core compliance risk.
• Disclosure (Form 990). Most exempt organizations file the annual public Form 990 — the primary due-diligence document for donors and watchdogs. 501(c)(4)s generally need not disclose donors (the root of "dark money") [9].
• State charity oversight. Roughly 40 states require charitable-solicitation registration before soliciting residents; state attorneys general police fundraising and governance — a real enforcement risk (the NRA's New York litigation is the cautionary tale) [10][20].
• Campaign-finance and lobbying rules. The Federal Election Commission and state equivalents govern electioneering; the federal Lobbying Disclosure Act requires registration past set thresholds [34].
• Foreign-activity rules. The Foreign Agents Registration Act (FARA) and Treasury sanctions (OFAC) bear on internationally focused human-rights and conservation groups [33].

The 2025–26 funding shock — the defining regulatory event, and it hit the children differently. In January 2025, an executive order froze U.S. foreign aid; by March the administration had terminated the vast majority of USAID programming and thousands of State Department grants — on the order of $80 billion in canceled awards — devastating internationally focused human-rights groups [15]. On the environment side, a September 2025 tally counted roughly $29 billion in climate and environment grants canceled or frozen, including the EPA's ~$20 billion Greenhouse Gas Reduction Fund; nonprofits sued, and a June 2026 ruling found EPA's wholesale termination "arbitrary and capricious," while declining to force an immediate restart [19]. For grant-dependent groups this was not a rule change but a revenue collapse — and, ominously, proposals to scrutinize or revoke the tax-exempt status of disfavored advocacy groups make the sector's regulator also, at times, its political opponent.

8. Consolidation and competitive dynamics

By the federal concentration data this is one of the least concentrated levels in the entire economy — and the rollup is more fragmented than any of its children. The table makes the point:

Economic Census 2022; HHI below 1,500 is "unconcentrated," so every row here is off-the-charts fragmented [3][3a][3b][3c].

Why the level (HHI 43.4) is less concentrated than even its most fragmented child (61.2) is the key rollup insight: the biggest firm in each child is a different organization — AARP in human rights, The Nature Conservancy in conservation — so combining the three dilutes any single firm's share. Even the largest single operator (~$1.8B) is only ~4% of the level's ~$48B receipts. Human rights looks concentrated (HHI 284) only because AARP is large relative to its own child; that dominance disappears in the combined field.

• What they compete for. Not customers — donor trust and attention, foundation grants, evidence quality, staff, media oxygen, and policy influence. Two groups on the same cause compete for the same checkbook.
• Moats. Brand, a loyal recurring-donor and member base, chapter networks, and an endowment — durable and hard to replicate, but fragile: trust is perishable (the NRA's revenue roughly halved amid scandal and litigation; the Human Rights Campaign entered restructuring; SPLC faced internal controversy) [20].
• Consolidation among operators is rare. Nonprofits seldom merge — ideology, donor restrictions, brand, and board governance resist it. They more often use fiscal sponsorship, share back-office functions, or fold into umbrellas. Expect the 2025–26 funding shock to force staff cuts, program closures and "localization" among aid-dependent groups rather than tidy mergers.
• The vendor layer consolidates the normal way. Private-equity-backed platforms are rolling up donor-management, fundraising, payments and grantmaking software (Bonterra, Bloomerang, Benevity, GoFundMe), where recurring commercial revenue and switching costs make roll-ups attractive [27][28][29][35]. In conservation, the for-profit adjacency (environmental services) supports classic acquisitions too.

Forward judgment: the operator base stays fragmented and ideological; the vendor and environmental-service adjacencies keep consolidating. Across all three children the shape is a barbell — resource-rich national brands and lean, digital-native single-issue startups both grow, while mid-size dues-dependent legacy groups struggle.

9. Risks

The children share one risk profile, differing mainly in which trigger is live:

• Funding concentration and donor cyclicality. Reliance on a single foundation, a government program, or episodic "rage" spikes is the top structural risk; one-time surges don't fund permanent staff, and restricted grants can't cover core operations.
• Government-funding collapse (already realized). The 2025–26 cancellations hit internationally focused human-rights groups (USAID/State) and grant-dependent conservation groups (EPA/climate) hard, with community-action funding also exposed [15][19][23].
• Political and regulatory backlash. Threats to tax-exempt status, IRS audits, state-AG and charitable-solicitation investigations, and FARA/OFAC scrutiny can be aimed at disfavored groups — a sector whose regulator can double as its opponent.
• Reputational and leadership fragility. Scandal, a founder transition, related-party dealings, or excessive insider pay can trigger donor flight fast (NRA, HRC, SPLC).
• Polarization. Donor bases split by politics; a group seen as partisan alienates half the giving pool, and taking a side invites organized counter-campaigns.
• Structural donor headwinds. A shrinking small-donor base, the rise of donor-advised funds as intermediaries, and possible cuts to the charitable-deduction incentive pressure grassroots fundraising.
• Cause-specific risks. Conservation carries land-stewardship liability, perpetual-easement obligations, and carbon-credit "additionality" credibility questions; the "other" bucket is acutely event- and election-dependent.
• Operational, data and market risk. Cyberattacks on donor and activist data, staff burnout, weak outcome measurement, and portfolio risk on endowments.
• For investors specifically. There is no equity to own and no dividend to collect; all exposure is indirect and therefore diluted by the vendors' other business lines, and PE-backed vendors carry integration and price-pressure risk.

10. How to invest and the outlook

Public-market investors — indirect only. No security tracks NAICS 81331, and advocacy nonprofits (unlike hospitals or universities) rarely issue bonds, so municipal exposure is minimal. Realistic routes:

• Shared nonprofit-tech vendors — Blackbaud (BLKB), Salesforce (CRM), PayPal (PYPL) — the one listed exposure common to all three children. Judge them as software/payments businesses (recurring revenue, retention, margins, security, share of business actually tied to nonprofits), not as advocacy bets [24][25][26].
• The conservation adjacency — the widest listed opening. Environmental-service equities (TTEK, ACM, STN, WM, CLH), green/sustainability bonds, and thematic ESG/clean-economy funds give the most direct financial exposure to any part of this level — but only to the environment child [30][31].

Private investors and philanthropists — where capital actually enters the operator side. Direct capital to a nonprofit is a grant, recoverable grant, loan, or program-/mission-related investment, not an ownership stake: direct giving (recurring is the highest-value form), donor-advised funds, planned giving, foundation general-operating support (the most valuable, hardest-to-get money), and, in conservation, conservation-finance / impact funds and mitigation banking — the closest thing to a for-profit business inside the level [31]. Venture and PE capital is available in the vendor ecosystem (Bonterra, Bloomerang, Benevity, GoFundMe) [27][28][29][35].

Due diligence in every case — read the Form 990 and audited financials, then check unrestricted net assets and months of liquidity; donor and grant concentration; fund restrictions; program-expense ratio in context; board independence and related-party transactions; program outcomes; data-security and sanctions procedures; and dependence on key individuals.

Outlook (editorial judgment). The level splits into three trajectories, exactly as the Section 2 table implies:

• Human rights — domestic advocacy is positioned for episodic "resistance" surges under a polarizing administration, and the seniors' segment rides durable demographic tailwinds; internationally focused, aid-dependent groups face genuine contraction after the 2025 foreign-aid cuts.
• Environment — a structurally strong giving backdrop and growing market-based revenue (carbon, mitigation banking, conservation finance) against a real near-term squeeze on government-dependent groups, to be settled in court.
• Other social advocacy — a barbell of national brands and digital-native startups growing while mid-size dues groups (the NRA the warning sign) struggle, all riding record election-cycle issue-advocacy money.

Across the whole level, the durable winners are the organizations with diversified revenue, real reserves or an endowment, and a loyal recurring-donor base. For an investor, the honest takeaway is consistent in every child: this is something you fund or serve, not something you own — and to the extent it is investable at all, the money sits in the for-profit plumbing (nonprofit-tech, payments, data) and, uniquely, in the environmental-services and conservation-finance ecosystem that the conservation child creates.

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Sources

1. U.S. Census Bureau, "2022 NAICS — Social Advocacy Organizations (81331) and child industries 813311/813312/813319." https://www.census.gov/naics/?input=81331&year=2022
2. U.S. Census Bureau, County Business Patterns (2023), NAICS 81331 — establishments, employment, annual and Q1 payroll (Histometrics ingested federal statistics). https://data.census.gov/

3. U.S. Census Bureau, Economic Census — Concentration of Largest Firms (2022), NAICS 81331 — firms, receipts, CR4/CR8/CR20/CR50, HHI (Histometrics ingested federal statistics). https://data.census.gov/table/ECNSIZE2022.EC2200SIZECONCEN?codeset=naics~81331 3a. Child primer 813311 (Human Rights Organizations) — Economic Census 2022 receipts/firms/concentration and County Business Patterns 2023 employment/payroll. 3b. Child primer 813312 (Environment, Conservation and Wildlife Organizations) — Economic Census 2022 receipts/firms/concentration and County Business Patterns 2023 employment/payroll. 3c. Child primer 813319 (Other Social Advocacy Organizations) — Economic Census 2022 receipts/firms/concentration and County Business Patterns 2023 employment/payroll.

4. U.S. Census Bureau, "County Business Patterns Methodology" (employer-only coverage; exclusion of government and volunteer-only activity). https://www.census.gov/programs-surveys/cbp/technical-documentation/methodology.html

5. U.S. Census Bureau, "Nonemployer Statistics FAQ" (nonprofits excluded). https://www.census.gov/programs-surveys/nonemployer-statistics/about/faq.html
6. U.S. Small Business Administration, "Table of Small Business Size Standards" (NAICS 813311 = $34M; 813312 = $19.5M; 813319 = $18M), 2023. https://www.sba.gov/document/support-table-size-standards
7. Internal Revenue Service, "Exemption Requirements — 501(c)(3) Organizations." https://www.irs.gov/charities-non-profits/charitable-organizations/exemption-requirements-501c3-organizations
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14. Nonprofit Quarterly, "'Rage Donations' Hand the ACLU a Windfall," 2017. https://nonprofitquarterly.org/rage-donations-hand-aclu-enters-political-fray/
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16. The Nature Conservancy, "2024 Annual Report" and FY24 audited financial statements. https://www.nature.org/en-us/about-us/who-we-are/accountability/annual-report/2024-annual-report/
17. Ducks Unlimited, "2024 Annual Report" / DU Financial Information 2024 (habitat-delivery government revenue). https://www.ducks.org/conservation/national/ducks-unlimiteds-2024-annual-report
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21. ProPublica Nonprofit Explorer / MADD Form 990 (2023) (~$36.6M revenue; ~30% government). https://projects.propublica.org/nonprofits/organizations/942707273
22. Brennan Center for Justice / OpenSecrets, "Dark Money Hit a Record High of $1.9 Billion in 2024 Federal Races," 2025. https://www.brennancenter.org/our-work/research-reports/dark-money-hit-record-high-19-billion-2024-federal-races
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28. Warburg Pincus / JMI Equity, "Bloomerang Secures Strategic Investment from Warburg Pincus," 2024. https://warburgpincus.com/2024/02/08/bloomerang-secures-strategic-investment-from-leading-private-equity-firm-warburg-pincus/
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30. Tetra Tech (TTEK), AECOM (ACM), Stantec (STN), Waste Management (WM), and Clean Harbors (CLH) — investor-relations annual reports, 2024.
31. Green Finance Institute / The Conservation Fund, "$150M land-conservation green bond"; and The Nature Conservancy, "Impact Investing, Finance and Markets." https://hive.greenfinanceinstitute.com/gfihive/revenues-for-nature/case-studies/conservation-fund-green-bonds/
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33. U.S. Department of Justice, "Foreign Agents Registration Act (FARA)." https://www.justice.gov/nsd-fara
34. U.S. Federal Election Commission, campaign-finance and electioneering rules; federal Lobbying Disclosure Act. https://www.fec.gov/
35. GoFundMe Pro, "Classy Joins the GoFundMe Family," 2022. https://pro.gofundme.com/c/blog/gofundme-acquires-classy/