Clinton Foundation Revenue Plummets to 16-Year Low, Creating $16.8 Million Spending Deficit
The Clinton Foundation is one red piece of America — red ink, that is, according to the latest tax returns filed by the foundation.
The returns reveal that in 2018, the foundation took in $30.7 million while spending $47.5 million.
The extent to which the foundation has eroded fiscally was noted on OpenSecrets.org, which reported that 2018’s haul was “less than half the $62.9 million it raised in 2016 as Clinton was at the height of her presidential campaign.”
The site also suggested former Secretary of State Hillary Clinton’s 2016 election loss to President Donald Trump was a watershed moment for the foundation.
“Each of the two years since Clinton’s loss in the 2016 election has seen the organization’s revenue drop to record lows, raising less than any fiscal year in more than a decade — a sharp contrast to the $249 million raised during Clinton’s first year as secretary of state,” it wrote.
The $16.8 million loss in 2018 followed a $16.1 million loss in 2017.
The $30.7 million in revenue is the lowest amount the foundation has taken in since 2002, when it had $25.6 million in total revenue.
The federal Form 990 tax return filed by the foundation said its assets dropped from $329.7 million at the start of the year to $299.5 million by the end of the year.
However, major donors have not forgotten the foundation. Open Secrets said nine people were responsible for giving the foundation $11.9 million in 2018.
The foundation’s troubles provoked discussion on Twitter:
A very beautiful set of numbers #ClintonFoundation #Clinton pic.twitter.com/A9j1l3r3G2
— Pav (@_Pav__) November 19, 2019
This is so weird because I was assured many times on CNN by very smart Democrats that the Clinton Foundation was a blameless charity and had *nothing to do* with selling influence or access https://t.co/YvaRCGfA29
— Buck Sexton (@BuckSexton) November 20, 2019
A very beautiful set of numbers #ClintonFoundation #Clinton pic.twitter.com/A9j1l3r3G2
— Pav (@_Pav__) November 19, 2019
The foundation reported that it spent at least $23.8 million on salaries and other forms of compensation, including a total of about $404,000 to Bruce Lindsey, one of the foundation’s directors.
Twelve other individuals were listed as having received six-figure salaries.
Chelsea Clinton, the daughter of former President Bill Clinton and Hillary Clinton, was listed on the form as receiving no compensation despite her position as a director of the foundation.
Clinton Foundation spokesman Brian Cookstra refused to characterize the foundation as struggling, Fox Business reported in a story headlined, “Clinton Foundation bleeding cash.”
“Our entire 990 shows our work was fully funded by donations, grants, savings from prior years, and interest from our endowment,” Cookstra said.
“In the last year, the Clinton Foundation’s programs have grown to help more people, and we are committed to operating programs that are effective, efficient, and sustainable,” he said.
However, CNN reported last year that the FBI had opened an investigation into the Clinton Foundation to determine whether donors who gave to the foundation while Clinton was secretary of state were promised favors.
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