Small businesses frequently lose money in their first year or so. Nobody claims the management are crooks.
Why should anybody expect a non-profit enterprise to have net earnings immediately ? There are start-up costs that take time to recoup and processes to learn and fine-tune.
What is the the typical percentage of contributions to a PAC that eventually goes to a candidate’s or issues’ own campaign coffers ? After putting out ads and information itself, I don’t think a PAC would necessarily have anything “left over”.
Actually, people often get sued and prosecuted for investment and business fraud.