Obama's "Organizing for Action" as 501c4 accepting corporate donations

Democracy 21 on the Administration's new non-profit advocacy org:

The President and his political allies are creating a section 501(c)(4) tax-exempt organization, Organizing for Action. It will be governed and run by some of the President’s closest political operatives. 

The new organization has the stated purpose of advocating the President’s agenda and will accept unlimited contributions from corporations and individuals to pursue this goal. As far as I know, this is the first time a President has outsourced an important responsibility of his presidency to a private sector organization that is financed by unlimited private funds and that is, in effect, operating as an arm of the presidency.

I suspect we'll hear much more about this.