The Clinton Foundation has been on a financial skid since Hillary Clinton lost the 2016 election, a new report from the Washington Free Beacon shows.
According to tax records filed on behalf of the Foundation for the last several years, the Clinton Foundation, which once touted itself as a massive global force for good, but often looked to be little more than a roundabout way of influencing the political priorities of its three leaders — Bill and Hillary Clinton and their daughter Chelsea — is now a mere shell of its former self, having lost around half of its value after Hillary Clinton failed to win the White House.
“The foundation reported total revenue of just $30.7 million, including $24.2 million worth of grants and contributions, a record low for the alleged ‘charity,’” the Free Beacon reports. “That figure was well short of the foundation’s total expenses for the year—$47.5 million— resulting in a net loss of $16.8 million.”
That makes 2018 the second year in a row that that the Clinton Foundation failed to meet its fundraising expectations: “The previous year, the Clinton Foundation reported a net loss of $16.1 million.”
Altogether, the Free Beacon says, that means the Clinton foundation has come up $30 million short since 2016.
The Clintons have been adamant that the Foundation isn’t necessarily a clearinghouse for off-the-books political giving (though, in fairness, it also serves as an employment opportunity for their daughter), but as the Free Beacon points out, the best fundraising years the Clinton Foundation just happened to be the same years Hillary Clinton served as Secretary of State, and the same years she was running a presidential campaign. Between 2008 and 2016, it seems, the Foundation’s fundraising was in the billions.
It likely does not help that the Federal government has since instituted an investigation into the internal workings of the Clinton Foundation — and specifically how money was spent and whether “donors to the foundation were improperly promised policy favors or special access to Hillary Clinton while she was secretary of state in exchange for donations to the charity’s coffers, as well as whether tax-exempt funds were misused,” according to CNN.
The claim isn’t merely part of a political witch hunt: someone with intimate knowlege of the “charity’s” finances compiled a whistleblower report, according to the Hill, which uncovered the investigation back in 2018, and that whistleblower attached more than 6,000 pages of evidence they felt indicated that the Clintons were using the Foundation as a way to encourage donor competiton and build income.
The submission reportedly contains an interview with “the foundation’s longtime chief financial officer” where he says he was “unable to stop former President Clinton from ‘commingling’ personal business and charitable activities inside the foundation.”
There’s some circumstantial evidence to indicate that the Clinton Foundation isn’t what it seems, as well. The Foundation, unlike other charitale stalwarts on the progressive end of the spectrum, does not have a multi-million dollar endowment and the Clintons aren’t one of the Foundation’s major donors. The “ongoing endowment” is barely $2.9 million, pennies compared to, say, the Ford Foundation, Open Society Foundation, and TIDES.
Most of its money, then comes from major donors, making it more likely that those who give to the Clintons’ charity are engaging in a little “influence peddling” — and when the Clintons are out of “influence,” as they are right now, the Foundation’s donor base dries up.