Monday, September 19, 2016

For the Clinton machine, it's all about the gravy

After the travel expenses and the glitz, it seems there's not much left over for do-gooder-ism:

The Clinton Foundation spent less than 6 percent of its budget on charitable grants in 2014, according to documents the organization filed with the Internal Revenue Service (IRS) in 2015.
During the 2014 tax year, the tax-exempt foundation spent a total of $91.2 million, but less than $5.2 million of that money, or 5.7 percent, was granted to charitable organizations, the group’s tax filings show. The Clinton Foundation raised nearly $178 million in 2014. The organization’s charitable grants also declined significantly when compared to its donations in 2013. Compared to its 2013 charitable grants of $8.8 million, the Clinton Foundation’s grants in 2014 declined by more than 40 percent, even as its revenue over the same period increased by 20 percent. According to the tax filings, the Clinton Foundation is currently sitting on $354 million in assets, including $125 million in cash or cash equivalents and $108 million in property or equipment.

The tax records, which were filed with the IRS in November of 2015, show that the Clinton Foundation spent far more on overhead expenses like travel ($7.9 million) than it did on charitable grants in 2014. The group also spent more on rent and office supplies (a total of $6.6 million) than it did on charitable grants. The Clinton Foundation’s IRS forms show that even its depreciation expense ($5.3 million) — an accounting classification that takes into account the wear and tear of an organization’s assets — exceeded the tax-exempt organization’s charitable grant outlays.
Have this at the ready when you encounter anyone from the dwindling band of dyed-in-the-wool Madame BleachBit devotees this fall.

1 comment:

  1. This is pretty much de rigeur for foundations. Lots of takin & rakin off the top. I can link you many many similar instances.

    ReplyDelete