The Clinton Foundation experienced an unrecoverable financial blow following the loss of Hillary Clinton’s 2016 bid for the seat of president. Since her failure to secure power in the White House, the Clinton’s allegedly humanitarian foundation saw donations evaporate to a mere quarter of what they were before her lost campaign.
Axios reported the nonprofit’s tax filing figures, which reveal that the organization received an estimated $16.3 million worth of contributions throughout 2020. In 2019, the organization received $29.6 million. Rolling back the clock to 2016, when powerful and wealthy patrons thought they could purchase some high-level quid-pro-quo, the Clinton foundation brought in a whopping $62.9 million.
Kevin Thurm, the foundation’s CEO complained that 2020 “was a difficult year.” He issued the comment a letter that accompanied the lousy financial disclosure. Thurm also mentioned that the lack of donations means that resources across the board are “stretched thinly” for projects funded by the Clinton administration.
According to reporting by Axios, the Clinton foundation has historically relied upon large fundraising events to bring in donors; just the sort of gatherings which the pandemic blocked. But this fails to explain the fact that the organization has been bleeding contributions since before COVID-19 ever came to bear. The truth is that the nonprofit has been suffering ever since Clinton failed to win her bid for power in 2016.
Several particularly wealthy patrons have kept the foundation alive throughout the pandemic, such as the Walton family, Haim and Cheryl Saban, the founders of Walmart, and the government of Norway.
The “substantial endowment” which the foundation possesses has been able to offset some of the organization’s contributions, according to Axios. Last year’s stock market, for instance, allowed the organization to liquidate a full $15 million worth of assets in order to meet its financial obligations. The foundation’s endowment was valued at $235 million as of the end of 2020.
Thurm said that this means the Clinton Foundation remains fully funded for the near term, despite four years in a row of significantly hemorrhaging contributions.
It should surprise nobody with a critical eye that since Clinton lost her last shot at major U.S. power that donations would stop coming into her alleged ‘philanthropy’ piggy bank. The Clintons are old, they are running out of donors, and soon they can be forgotten. Thankfully, they’re already irrelevant.
Author: Joyce Brooks