NEVADA — Here in swing state Nevada—the southern reaches of which are less than a five-hour drive from Mexico—Latinos make up more than 25 percent of the population and 15 percent of registered voters. Both Barack Obama and Mitt Romney view the state as a “must win.”

Enter, last week, a brand new voter outreach initiative called Nevada Hispanics, with plans to spend up to $1 million here encouraging the state’s largest minority group—through town hall events and church visits and, perhaps, some TV ads—to vote conservative this fall.

So, who are these well-funded folks? And, from where do their funds come?

The answers, unfortunately, aren’t altogether clear (more on that coming). And reporters here added to the murk as much as they clarified.

As the Las Vegas Review-Journal’s Washington correspondent, Steve Tetreault, pointed out in a piece last week previewing the group’s launch, it is a Washington, DC-based group, American Principles in Action, that has “jump[ed] into Nevada” to power this “self-described grassroots effort” dubbed Nevada Hispanics.

Reported Tetreault:

American Principles in Action was established in 2009 to promote conservative social goals. In 2010 it backed Republican Carly Fiorina for U.S. Senate in California and claimed it helped boost her support among Latinos even though she lost to incumbent U.S. Sen. Barbara Boxer.

The organization is a political nonprofit that isn’t required to disclose its donors, which has raised eyebrows with one ethics watchdog group. In a 2010 report, Citizens for Responsibility and Ethics called American Principles in Action “a shadowy group aiming to influence Latino voters.”

“The money and muscle behind the Latino push seems to involve few Latinos,” the report said. “Instead it came from a network of conservatives with a track record of creating sophisticated grass-root campaigns behind social initiatives.”

So, American Principles in Action is a 501(c)(4) or what Stephen Colbert would call a “spooky PAC.” Such groups, as Tetreault noted, don’t have to disclose their donors to the public (just to the IRS), so—without a friendly IRS source or this dark money group suddenly volunteering its donor list—reporters can not tell readers whose money is at work here. “Our donors prefer not to be revealed,” is how Alfonso Aguilar, “a former Bush administration official involved in what will be called Nevada Hispanics,” puts it in Tetreault’s piece.

If reporters can’t tell folks who is funding these efforts, they can explain to readers why that is and how this group fits into this election cycle’s outside spending landscape. Tetreault did better than other Vegas-area news outlets on this front—although he waited until the end of his piece to get to this. (A link to opensecrets.org’s admittedly limited data on American Principles in Action or to other online campaign finance resources CJR reviewed here might have further enhanced Tetrault’s piece.)

Another key question: what message(s) will these unknown donors be funding? Per Tetreault (and the group’s own press release), “American Principles in Action will campaign on ‘limited government,’ and it is planning attacks on the Obama administration’s record-high deportations of illegal immigrants.” Here, Tetreault should have provided readers with more about the administration’s deportation levels—readily available numbers and context.

Which brings us to the headline from Sin City’s other daily, the Las Vegas Sun, on its report about Nevada Hispanics’ launch: “Hispanic coalition: Obama ‘most anti-immigrant president’ in U.S. history.” Attention-grabbing and, no doubt, American Principles in Action-pleasing.

Here, in the article’s fourth paragraph, is how Sun reporter Tovin Lapan answered the “who are these folks” question (see if you can follow along):

Nevada Hispanics is an initiative of American Principles in Action, an affiliate of American Principles Project, a conservative organization founded by Princeton University professor Robert George. Aguilar’s Latino Partnership for Conservative Principles also is affiliated with American Principles Project.

And more, three paragraphs later:

The campaign is also affiliated with conservative groups Americans for Prosperity; the Libre Initiative, which focuses on economic policy; and the Congress of Racial Equality, a civil rights organization founded in 1942 that has progressively moved toward more conservative position.

Jay Jones is a Las Vegas-based freelance writer who has covered political campaigns for various media outlets in the U.S. and for the BBC in the U.K.