Who would have seen that coming?
Posted on 08/19/2022 1:14:07 PM PDT by DUMBGRUNT
It doesn’t have the money it promised the city it would raise under a May 2019 master agreement for the Jackson Park property.
The Obama Foundation just released its annual report and 990 tax forms for 2021. Together they show that the Obama Presidential Center’s financial foundations are as rickety as its physical ones. The Foundation’s 2020 annual report exhibited some financial candor, estimating that $300 million in annual donations for four straight years would be necessary to meet all future construction and operating costs. The 2021 return revealed that the foundation had raised only $159 million, about 8% less than it raised in 2020. Those dollars must pay for all foundation activities, including payroll, fundraising, public relations, and scholarship and grant programs.
The foundation’s failure to meet these two conditions meant that the 2021 property transfer should never have happened.
ny private developer would have to prove this, especially for a project affecting such a substantial piece of publicly owned park land in the center of a major U.S. city. Construction should be paused until the foundation proves it is complying with the key terms of the master agreement. If we are correct, it should never have broken ground.
(Excerpt) Read more at wsj.com ...
Oh that’s a shame.
That’s called “weather”.
$1.2 billion to build that place?? Don’t think Amazon dropped that much on building 200 warehouses. And those are at least useful.
Won’t be too long before Obama hears “you didn’t build that”.
If Barry and Big Mike would quit skimming 75% off the top of all donations, the nobama center would be OK.
Lots of taxpayer dollars from the wonderful nation-saving inflation-reduction bill will take care of the financial situation of such an important national treasure very quickly...
Guess there is no honor amongst democrat thieves.
So Obama can’t raise the monies needed to fund, build and maintain his Library. This proves just how Lazy he is, he thought the money would roll in and he would not have to actively work to get it.
While I can’t stand Clinton, the guy knew how to work donors and was working to raise money before he even left office and get his built and monies needed to maintain it.
At this rate Obama’s monument to himself may never happen until he gets off his lazy butt and works for it. Where are all his rich Billionaire friends, why are they not anteing up to build a Library to the first Black President????????? Has White Liberal Guilt run it’s course as far as Obama is concerned? Where are the Saudi’s?
There should be some cheap land available next to the sewage treatment plant.
It is Obama’s monument to himself, but they are not even calling it a Library because it won’t be a library, it will contain no books or papers.
It is the Obama Center, centered on Obama.
With the fat governor running for re-election, your FJB yard signs are doubly useful.
Maybe they can find an old garage some place on State street for the Obama Center it isn’t like it’s going to be crowded.
For every dollar they raise, eighty cents is stolen and laundered clean as a leftists uterus.
If memory serves, ground was broken not long ago, after ruining a park and a popular public golf course that served Chicago’s south side.
I suspect the cash shortfall was announced after the ruination began.....now it’s too late to move the park west as had been proposed.
Wonder what he did with all the money he had donated?
Doesn’t Husseincare cover that?
Come on man! Keep up. Dr Seuss has already been declared racis. Besides that, I like your post. Curious George may have been found racis by the time I finish posting mine.
*****Where are the Saudi’s?*****
At Bedminster with their new golf tournament
He could mortgage his many mansions (Martha’s Vineyard, Hawaii, Kenwood) and kick in the proceeds to make up a good bit of the difference . . .
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