Obama Foundation has its best fundraising year yet, with assets near $1 billion
Fundraising in previous years was hindered both by the COVID-19 pandemic and legal challenges that slowed the construction process. After a long court battle,The 2022 increase largely comes from tech donors, foundation spokeswoman Courtney Williams said.
Chesky gave an additional $25 million in unrestricted funds, Williams said. Amazon founder Jeff BezosThe foundation’s new large, notable donors for 2022, according to Williams, are Bank of America, Comcast NBC Universal, the Bill & Melinda Gates Foundation, and Lego System A/S. The foundation does not disclose specific donation amounts.“We are grateful for the support of all of our donors this past year.
The foundation reported spending $59.7 million last year — of that, $24 million went to programming in service of the foundation’s mission “to inspire, empower and connect people to change their world.” Among the foundation’s training programs for the next generation of civic leaders: the Obama Scholars program, which covers living and tuition costs for qualified students from University of Chicago, where Obama taught, and Columbia University in New York City, where Obama graduated from college. The two-year unpaid Obama Foundation Fellowship offers training, coaching and mentorship for groups of “civic innovators” from around the world.
The foundation also pays out grants to community organizations, including locals like Thrive Chicago and the Gary Comer Youth Center, as well as other national groups that support the My Brother’s Keeper Alliance.As of the start of July, concrete work for the museum building’s elevator and stairwell reached the 3rd floor, where the eventual Oval Office replica will be.
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