From Trenton to Seaside Heights. From Newark to Cape May, the recent protests against President Donald J. Trump appear to be a well-financed and coordinated national effort backed by a billion-dollar network.
A recent investigation by the Pearl Project, a nonprofit journalism initiative, claims to have identified 685 organizations as participants in recent nationwide anti-Trump protests, with combined annual revenues totaling approximately $3.7 billion.
On Saturday, June 14, 418 groups were reported as organizers for the #NoKings protests, which the research states were aligned with the Democratic Party. Many of the organizations held nonprofit status while acting under the banner of nonpartisan entities. According to the Pearl Project, these groups collectively maintain annual budgets estimated at $2.4 billion.
In addition to the #NoKings events, 267 other organizations have been involved in earlier protest movements under banners such as #TeslaTakedown, #HandsOff, and #MayDay. These groups reportedly account for $1.3 billion in annual revenues and include many of the same entities that participated in the June 14 events.
| #NoKings Breakdown | Number of organizations | Total annual revenues | Examples | Political leaning |
| Democratic National Committee affiliates and chapters | 102 | Not found yet | ||
| Political action committees | 16 | $1,106,056,014 | Friends of Bernie Sanders, Progressive Democrats of America and Vote Blue | Democratic |
| 501(c)(5) labor union nonprofits | 18 | $19,417,250 | Lead organizer American Federation of Teachers | Democratic |
| 501(c)(4) political nonprofits | 76 | $734,300,000 | ACLU, Indivisible Project, Third Act | Democratic |
| 501(c)(3) nonprofits | 47 | $286,700,000 | Unitarian Universalist Association, Indivisible Civics Inc. | Democratic |
| Other groups | 38 | unknown | Democratic | |
| “Palestine Contingent” | 32 | $54,542,822 | Answer Coalition, Code Pink, Council on American-Islamic Relations, Party for Socialism and Liberation, | Democratic |
| Chicago Coalition Against the Trump Agenda (many anti-Israel) | 89 | $168,840,458 | U.S. Palestinian Community Network, Freedom Road Socialist Organization | Democratic |
| Total # of groups that have organized #NoKings protests | 418 | $2,369,856,544 | ||
| Additional #TeslaTakedown #HandsOff organizers since January 2025 | 267 | $1,300,000,000 |
Among the organizations cataloged, 102 were identified as Democratic National Committee affiliates or chapters, while 76 were 501(c)(4) political nonprofits, including groups such as the ACLU, Indivisible Project, and Third Act. The research also listed 47 501(c)(3) nonprofits, 18 labor union nonprofits, and 16 political action committees, including Friends of Bernie Sanders and Vote Blue.
A “Palestine Contingent” of 32 organizations was noted for its participation, including Code Pink, the Answer Coalition, and the Council on American-Islamic Relations. An additional 89 groups associated with the Chicago Coalition Against the Trump Agenda were also named, some of which were described as anti-Israel.
The Pearl Project stated that its findings aim to enhance transparency surrounding the protest industry and noted that further data collection is underway. The group is currently building a database to document organizations involved in anti-ICE protests and has invited the public to contribute information or suggestions to its ongoing research.
In its public statement, the Pearl Project acknowledged the presence of well-intentioned individuals participating in protests but emphasized its intent to document the supporting infrastructure behind these events.
