Political leanings: Republican

2024 total spending: $176.6 million

One Nation is an issue advocacy organization that says it is “dedicated to promoting commonsense conservative policies and ensuring America adheres to the vision of the Founders.” That means “a nation forged from different cultures, countries, creeds and classes – yet unified by a common commitment to freedom, responsible governance, and guaranteed individual liberties,” according to its website.

The group is the nonprofit arm of the super PAC known as the Senate Leadership Fund, or SLF PAC, which was founded in 2015 by allies of Republican Sen. Mitch McConnell of Kentucky. Both groups — led in part by Executive Director Alex Latcham, who worked on President Donald Trump’s 2024 campaign — are now aligned with Senate Majority Leader John Thune of South Dakota and primarily focus on helping Republicans maintain their Senate majority.

Unlike the super PAC, One Nation, as a registered 501(c)(4) organization, is not required to disclose its donors, which makes it a so-called “dark money” group. Because it is a tax-exempt organization, and not a political action committee, One Nation files annual tax returns with the IRS rather than monthly or quarterly financial reports with the Federal Election Commission. So, we don’t yet have access to the latest information revealing how much the nonprofit has raised during the 2026 election cycle. 

According to its 990 tax forms for the 2023 and 2024 tax years, One Nation received more than $170 million in “contributions and grants” during the 2024 election cycle. It also had about $176.6 million in expenses.

Notably, it has donated much of the money it raises to the affiliated Senate Leadership Fund. For the 2026 midterms, One Nation has given at least $70.7 million to SLF PAC, as of June 30, according to the super PAC’s filings with the FEC. During the 2024 elections, SLF PAC got about $63.5 million from One Nation, FEC records show.

In addition, One Nation spends a lot on communications, such as advertising, to influence policymaking. As of Sept. 23, it had spent more than $148 million on ads, including on broadcast, cable, and digital or streaming platforms, during the 2026 midterm cycle, according to the ad-tracking service AdImpact. That’s more than the nearly $109 million it spent on ads for the 2024 elections, according to AdImpact data.

So far for 2026, it has spent the most, $39 million, on ads for the Ohio Senate race, followed by more than $32 million for the Maine Senate race and about $26 million for the Georgia Senate race. On Sept. 18, we published a story about a One Nation ad that cherry-picked parts of the One Big Beautiful Bill Act of 2025 to overstate the impact of the law or distort the record of Democratic Sen. Jon Ossoff of Georgia. 

The ad spending doesn’t include the amount spent on other communications such as mailers. For example, the New York Times reported in late August that One Nation had sent out at least 10 mailers to potential Maine voters, to the benefit of incumbent Republican Sen. Susan Collins.

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