Chicago’s Obama Center Is Under Water
WSJ | 17 Aug 2022 | Richard Epstein, Michael RachlisIt 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.
Any 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.
Straight Line of the Day: Oh No! The Obama Center is still delinquent! What you can do: …
Heh. Someone posted this on the internet. But it’s probably true:
…I can keep hoping that the FBI raids his records and finds proof he was indeed a Supporter of Islamist Terrorists while he clinged to his Quran and Valerie Jarrett’s hand.
Flammable liquids and a match. Consider it a civic improvement. Send Mayor Lightweight the bill.
… you do what should be done with all delinquents, send them to Reform School…
No body know the trouble I seen,
Tried to build and ain’t got the green,
Just whitey and oppresion when,
I can’t get my share of the cream…
Pingback: Well, It’s Rule 5 Saturday… Again – THE MAD IRISHMAN
Oh No! The Obama Center is still delinquent! What you can do: …
vote Democrat so the new, new fight inflation bill will include a bailout for him.
Add a shooting range to the facility . Charge a fee for use. Encouraging good marksmanship could reduce the number of innocent bystanders cut down during gang violence.
Shooting range..like the one Justin is building in Manitoba for his new Green Compliance Police??
They are all in cahoots anyway ….Clinton…Obama…Bush…maybe they should combine Foundations…they can call it..the
“C LINT ON OBAMA’S BUSH Foundation”
EEEEEEEWWWWW!
You would think the first black president, who got 95% of the black votes (they totes dint vote on skin color alone, theyz all liked his policies, fo sho), could also get plenty of donations from them. I mean, based on TV commercials, they are all working upper middle class folks with money to spare in this great, booming economy. You would also think Mayor Beetlejuice would be thrilled to have that center there, and she’s got all that money that’s not going to the police.