Reports: Clinton Foundation Continues to Lose Money After 2016 Loss

Updated: 2019-11-19 17:30:04

The Clinton Foundation’s revenue dropped again and reported a third-straight year of losses, according to news reports.

In its Form 990 tax return for 2018, it reported $30.7 million, which is the lowest figure since 2002, when the foundation raised $25.6 million.

According to Open Secrets, it is a sharp contrast to the $249 million raised during Hillary Clinton’s first year as secretary of state in 2009 under then-President Barack Obama.

In 2013, the foundation had reported another $392.2 million in revenue. It raised another $344.4 million between 2014 and 2016.

But since 2016, following Clinton’s election defeat, the foundation lost $49.6 million, reported the Daily Caller.

“The foundation received less money from fundraising events and its service programs last year compared to previous years but kept investing tens of millions in the programs. Paid speeches accounted for $369,899 of the foundation’s intake, a mild uptick from the $297,976 it received in 2017 but a huge drop from $3.6 million in 2014,” Open Secrets wrote.

It added, “The foundation continued to chip away at its savings, burning more cash than it raised in 2018. With revenue of $30.7 million, it spent $47.5 million last year on payroll, grants, and promotion, among other items. It also scaled back spending on domestic grants and foreign activities compared to the prior year, but spent more in 2018 on advertising, promotions, and fundraising efforts.”

The foundation in 2015 amended tax returns before the 2016 elections, the report noted.

“The foundation’s disclosure of foreign government money from countries such as Qatar and Saudi Arabia as well as significant gifts from controversial donors such as Ukrainian oligarch Victor Pinchuk raised concerns about the influence of foreign powers on her 2016 presidential run,” Open Secrets said.

In 2017, the Clinton Global Initiative laid off most of its staff of about 100.

Former Clinton Foundation President Donna Shalala told The New York Times in 2017 that allegations of impropriety surrounding the charity that hampered Clinton’s 2016 campaign put a damper on the Clinton Foundation’s revenue.

In 2018, a Trump administration official said that the FBI is investigating the Clinton Foundation.

Nick Merrill, a spokesman for Hillary Clinton, said at the time that the renewed investigation is “a sham” and said it is “disgraceful, and should be concerning to all Americans,” NBC reported.

The investigation into the Clinton Foundation, which is being led by U.S. Attorney John Huber, is ongoing.

“The other issues [Huber has] been working on relate to Hillary Clinton” are “winding down and hopefully we’ll be in a position to bring those to fruition,” Attorney General William Barr said in May, reported the Washington Examiner.

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