Politifact Despots, Dictators And Terrorist Lovers – It’s The Clinton Global Initiative Annual Meeting–
PART 2 OF 5
|Founded||1997 (19 years ago)|
|Key people||Bill Clinton (2001–present)
Hillary Clinton (2013–15)
Chelsea Clinton (2011–present)
Donna Shalala (president, 2015–present)
Eric Braverman (president, 2013–2015)
Bruce Lindsey (president, 2004–2011)
Ira Magaziner (head of Clinton Health Access Initiative)
Doug Band (originator of Clinton Global Initiative)
|Revenue||$223 million (2015)|
|Mission||“To bring people together to take on the biggest challenges of the 21st century”|
The Clinton Foundation (founded in 1997 as the William J. Clinton Foundation, and called beginning in 2013 the Bill, Hillary & Chelsea Clinton Foundation) is a nonprofit corporation under section 501(c)(3) of the U.S. tax code. It was established by former President of the United States Bill Clinton with the stated mission to “strengthen the capacity of people in the United States and throughout the world to meet the challenges of global interdependence.” Its offices are located in New York City and Little Rock, Arkansas.
Through 2016 the foundation had raised an estimated $2 billion from U.S. corporations, foreign governments and corporations, political donors, and various other groups and individuals. The acceptance of funds from wealthy donors has been a source of controversy. The foundation “has won accolades from philanthropy experts and has drawn bipartisan support”.
Charitable grants are not a major focus of the Clinton Foundation, which instead keeps most of its money in house and hires staff to carry out its own humanitarian programs. The charity watchdog group Charity Navigator gave the Foundation its highest possible rating, four out of four stars, after its customary review of the Foundation’s financial records and tax statements. A different charity monitor, CharityWatch, says that 88% of the foundation’s money goes toward its charitable mission and gave the foundation an A rating for 2016. In 2015, based on revenue of $223 million and an expense ratio of 12% the foundation spent in excess of $26 million to complete its mission.
Bill Clinton founded the William J. Clinton Foundation in 2001 following the completion of his presidency. Longtime Clinton advisor, Bruce Lindsey, became the CEO in 2004. Later, Lindsey moved from being CEO to being chair, largely for health reasons. Other Clinton hands who played an important early role included Doug Band, and Ira Magaziner. Additional Clinton associates who have had senior positions at the foundation include John Podesta and Laura Graham.
Most of the foundation’s successes came from Bill Clinton’s worldwide fame and his ability to bring together corporate executives, celebrities, and government officials. Similarly, the foundation areas of involvement have often corresponded to whatever Bill Clinton suddenly felt an interest in.
Preceding Barack Obama‘s 2009 nomination of Hillary Clinton as U.S. Secretary of State, Bill Clinton agreed to accept a number of conditions and restrictions regarding his ongoing activities and fundraising efforts for the Clinton Presidential Center and the Clinton Global Initiative. Accordingly, a list of donors was released in December 2008.
By 2011, Chelsea Clinton was taking a dominant role in the foundation and had a seat on its board. To raise money for the Foundation, she gave paid speeches, such as her $65,000 2014 address at the University of Missouri in Kansas City for the opening of the Starr Women’s Hall of Fame.
In 2013, Hillary Clinton joined the foundation following her tenure as Secretary of State. She planned to focus her work on issues regarding women and children, as well as economic development. Accordingly, at that point, it was renamed the “Bill, Hillary & Chelsea Clinton Foundation”. Extra attention was paid to the foundation due to the 2016 United States presidential election.
In July 2013, Eric Braverman was named CEO of the foundation. He is a friend and former colleague of Chelsea Clinton from McKinsey & Company. At the same time, Chelsea Clinton was named vice chair of the foundation’s board. The foundation was also in the midst of a move to two floors of the Time-Life Building in Midtown Manhattan.
Chelsea Clinton moved the organization to an outside review, conducted by the firm of Simpson Thacher & Bartlett. Its conclusions were made public in mid-2013. The main focus was to determine how the foundation could achieve firm financial footing that was not dependent upon the former president’s fundraising abilities, how it could operate more like a permanent entity rather than a start-up organization, and thus how it could survive and prosper beyond Bill Clinton’s lifetime. Dennis Cheng, a former Hillary Clinton campaign official and State Department deputy chief, was named to oversee a $250 million endowment drive. The review also found the management and structure of the foundation needed improvements, including an increase in the size of its board of directors that would have a more direct involvement in planning and budget activities. Additionally, the review said that all employees needed to understand the foundation’s conflict of interest policies and that expense reports needed a more formal review process.
In January 2015, Braverman announced his resignation. Politico attributed the move to being “partly from a power struggle inside the foundation between and among the coterie of Clinton loyalists who have surrounded the former president for decades and who helped start and run the foundation.” He was succeeded at first in an acting capacity by former deputy assistant secretary, Maura Pally.
In August 2016 The Boston Globe‘s editorial board suggested that the Clinton Foundation cease accepting donations. The Globe’s editorial board offered praise for the foundation’s work but added that “as long as either of the Clintons are in public office, or actively seeking it, they should not operate a charity, too” because it represents a conflict of interest and a political distraction.
In 2016, the Reuters wire news service reported that the Clinton Foundation suspected that it had been the target of a cyber security breach. As a consequence of the suspected cyber security breach, Clinton Foundation officials retained a security firm, FireEye, to evaluate its data systems. The cyber security breach has been described as sharing similarities with cyberattacks that targeted other institutions, such as the Democratic National Committee.
source–Kevin G. Hall, western journalism, joe sanders,mcclatchy, wash post, ny post, casey wassermann, wsj, anita kuman, kevin hall, the boston globe, reuters, american enterprise inst., large cities climate leadership group, international business times, la times, factcheck, ap,