Qualcomm, the country’s largest maker of computer chips for mobile devices, has voluntarily disclosed previously secret political contributions to tax-exempt groups under a settlement with the New York State comptroller that was announced on Friday.
New York had brought a lawsuit against the company, a new tactic in the battle by officials and advocates nationwide to bring more sunlight to tax-exempt groups that they believe help corporations spend money on political influence outside the jurisdiction of federal campaign disclosure laws.
The comptroller, Thomas P. DiNapoli, filed the suit against Qualcomm last month in Delaware Court of Chancery on behalf of New York’s public employee retirement fund, asserting the fund’s right as a Qualcomm shareholder to inspect records of the company’s political spending.
In reaching the settlement, Mr. DiNapoli agreed to drop the lawsuit, leaving untested the proposition that shareholders could use Delaware’s unique corporate governance laws to force more political disclosure from the hundreds of large companies that are incorporated in that state. But Qualcomm immediately posted on its Web site a new list of previously undisclosed political contributions to tax-exempt groups, along with a new corporate disclosure policy that transparency advocates hailed as one of the most complete in the nation.
“Qualcomm’s disclosure policy sets a high standard for transparency in corporate political spending disclosure and the company deserves praise for its actions,” Mr. DiNapoli said in a statement. “This is a significant milestone.”
With efforts to legislate more disclosure showing little progress in Congress, shareholder groups and corporate transparency advocates have pushed many large companies to voluntarily share the information about their political spending. Mr. DiNapoli is among a small group of public officials who have tried to leverage their own jurisdictions — in Mr. DiNapoli’s case, as sole trustee of one of the country’s largest pension funds — to take more aggressive action.
Qualcomm’s founder, Irwin M. Jacobs, is a major donor to Democratic “super PACs,” politicians and tax-exempt groups, and the company’s employees were generous donors to President Obama. But the new disclosures reveal that the company’s contributions to politically active nonprofit organizations, lobbying groups and trade associations rival its previously disclosed contributions to candidates and party organizations.
The largest single contribution, $1 million, went to the Committee for a Responsible Federal Budget, a business-backed group that has lobbied for a so-called grand bargain on closing the deficit, restructuring Social Security and closing tax loopholes. Tens of thousands of dollars more went to center-left or nonpartisan advocacy groups, like No Labels or Third Way.
Additionally, $1.8 million went to a variety of trade groups, including $385,000 to the U. S. Chamber of Commerce.
“Qualcomm agrees with the New York State Common Retirement Fund that increased transparency for election-related activities by corporations is very beneficial,” said Paul E. Jacobs, Qualcomm’s chief executive. “While Qualcomm has been developing a new policy on disclosure of political expenditures for some time, engaging with the Common Retirement Fund has been helpful.”