by Samuel Gonzalez | April 26, 2015 7:05 pm
Usually the filthy rich like Bill Gates, Warren Buffett and other get rich via their businesses. After that is accomplished and they feel the itch to give back, they start charities or foundations to address the world’s ills.
However, the Clinton’s have been public servants for virtually their entire lives and only became wealthy AFTER starting the Clinton Foundation.
Smells very fishy indeed!
NY Post reports the Clinton Foundation’s finances are so messy that the nation’s most influential charity watchdog put it on its “watch list” of problematic nonprofits last month.
The Clinton family’s mega-charity took in more than $140 million in grants and pledges in 2013 but spent just $9 million on direct aid.
The group spent the bulk of its windfall on administration, travel, and salaries and bonuses, with the fattest payouts going to family friends.
On its 2013 tax forms, the most recent available, the foundation claimed it spent $30 million on payroll and employee benefits; $8.7 million in rent and office expenses; $9.2 million on “conferences, conventions and meetings”; $8 million on fund-raising; and nearly $8.5 million on travel. None of the Clintons are on the payroll, but they do enjoy first-class flights paid for by the Foundation.
In all, the group reported $84.6 million in “functional expenses” on its 2013 tax return and had more than $64 million left over — money the organization has said represents pledges rather than actual cash on hand.
Some of the tens of millions in administrative costs finance more than 2,000 employees, including aid workers and health professionals around the world.
But that’s still far below the 75 percent rate of spending that nonprofit experts say a good charity should spend on its mission.
Charity Navigator, which rates nonprofits, recently refused to rate the Clinton Foundation because its “atypical business model . . . doesn’t meet our criteria.”
Charity Navigator put the foundation on its “watch list,” which warns potential donors about investing in problematic charities. The 23 charities on the list include the Rev. Al Sharpton’s troubled National Action Network, which is cited for failing to pay payroll taxes for several years.
Other nonprofit experts are asking hard questions about the Clinton Foundation’s tax filings in the wake of recent reports that the Clintons traded influence for donations.
“It seems like the Clinton Foundation operates as a slush fund for the Clintons,” said Bill Allison, a senior fellow at the Sunlight Foundation, a government watchdog group once run by leading progressive Democrat and Fordham Law professor Zephyr Teachout.
From The Last Tradition
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