Ok, Which Clinton Foundation Should Close?
The Boston Globe editorial board demanded on Wednesday August 17, 2016 that Hillary Clinton shut down her family foundation if she wins in November because the entity “will always look too much like a conflict of interest for comfort.”
USA Today is calling for the Clinton Foundation to close down and transfer its charitable work to other groups.
The only way to eliminate the odor surrounding the foundation is to wind it down and put it in mothballs, starting today, and transfer its important charitable work to another large American charity…” “If Hillary Clinton doesn’t support these steps, she boosts Trump’s farcical presidential campaign and, if she’s elected, opens herself up to the same kind of pay-to-play charges that she was subject to as Secretary of State.
Add to those above, the Huffington Post, The Washington Post, The New Yorker, and New York Magazine, all suggesting the foundation be shut down.
Mr. Chait of the Arkansas Democrat-Gazette points out; “There’s no way around this problem without closing down the Clinton Foundation altogether.” What, and lose all that money flowing into the foundation from all over the world?
The headline of this article asks which one should be closed?
All of the following are separate foundations that have their own revenue streams and board of directors.
Here is the list of known Clinton Foundations:
The Clinton Foundation Hong Kong
William J. Clinton Foundation Charitable Trust (Kenya)
William J. Clinton Foundation Charitable Trust (UK)
The Clinton Foundation Insalingsstiftelse (Sweden)
Why did the United Kingdom Government give the Clinton Foundation (NY) $78,000,000 instead of giving $78,000,000 to the William J. Clinton Foundation Charitable Trust (UK)?
Why did the Republic of Ireland give the Clinton Foundation (NY) $158,300,000 instead of the William J. Clinton Foundation Charitable Trust (UK)? Last, why did the Kingdome of Norway give the Clinton Foundation (NY)$89,600,00 instead of giving it to The Clinton Foundation Insalingsstiftelse (Sweden)?
In three transactions $325,000,000 were channeled away from existing Clinton Foundations in the region. The above named foundations have separate boards from the Clinton Foundation (NY). If they do not seek donations in the US then external foundations may not be responsible for reporting the amount of money that comes in and where it comes from in terms of donors.
Currently we have no way of knowing for sure who are the donors, how much they’ve given and what these separate foundations are doing with their money. Are there more Clinton Foundations we still don’t know about across the globe?
As was pointed out above the William J. Clinton Foundation Charitable Trust (UK) was bypassed and $78 million in contributions were sent directly to the Clinton Foundation (U.S.) According to the UK charity commission, the William J. Clinton Foundation Charitable Trust (UK) Charity no. 1123171 and company no. 06308133 reported income for 2014 of 519.3 thousand pounds, charitable spending of 0%, and 2% for income generation and governance, and 98% of all income to the foundation was retained.3 One has to wonder why they couldn’t find a use for the income in 2014.
How about The Clinton Foundation (Sweden) three European national lotteries owned by the privately held Novamedia and one Swedish charity funded by Novamedia have donated more than $31.5 million to the Clinton Foundation (NY).
Nationale Postcode Loterij, the Dutch Postcode Lottery, has donated more than $25 million, including a donation made in 2014. According to the Insmaling Kontrol the Swedish website that tracks receipts and expenditures of Swedish charities, the WJCFI raised a total of $26 million from its founding in 2011 to 2013. It raised $3 million but distributed no funds in 2011. It raised $9 million and distributed $9.5 million in 2012, leaving $2.5 million in its bank accounts. In 2013, it raised $14 million, distributed $16.2 million, and had $300,000 remaining at year-end.
According to the Washington Times, “About half the funds collected by the foundation’s Swedish arm in 2011 and 2012 came from lottery enterprises tied to Novamedia.”
The Swedish Postcode Lottery has donated between $5 million and $10 million, including a donation made in 2014 to the Clinton Foundation (NY). The Swedish Postcode Foundation, a Swedish charity funded almost exclusively by the Swedish Postalcode Lottery, donated between $1 million and $5 million.
People’s Postcode Lottery, a British lottery, donated between $500,000 and $1 million. In addition to the Novamedia related entities, C40 Cities Climate Leadership Group, Inc. has donated between $5 million and $10 million, including a donation made in 2014.
It is unclear, however, whether the entire amount of those donations was passed through the WJCFI or if some were made directly to the Clinton Foundation.
Novamedia, founded in 1989 by Boudewijn Poelmann, says its mission “is to set up and operate Charity Lotteries all over the world to raise funds for charities and increase awareness for their work.”
This private company, based in the Netherlands, owns and operates Nationale Postcard Loterij (the Dutch Postcode Lottery), the Swedish Postcode Lottery, and the People’s Postcard Lottery in Great Britain. It is also the primary donor to the Swedish Postcode Foundation.
In 2015 the Postcode Lottery took in 1.5 billion euros and only paid out 40% to winners keeping 60%. The Clinton Foundation has received in excess of 1 million pounds from the Postcard Lottery.
Last, lets look at the Clinton Foundation (NY) Statement of Financial Position as of 12.31.14. Assets are $439 million. The foundation has $84 million in restricted funds, property and equipment of $108 million, and investments of $77 million. The Foundation brought in $337 million in income and spent $250 million. The foundation retained 25% of revenue hopefully to be spent at another time. I would like to know what the foundation owns for $108 million, but you can’t get that detail from the web site.
The Clintons and their advisers have built an extensive network of foundations across the globe. Some we know about, perhaps others we don’t. Sir Walter Scott said it best when he said, “Oh what a tangled web we weave, when first we practice to deceive!” Should the Clintons, if Hillary is elected, agree to close all of their foundations? USA Today said it best, “The only way to eliminate the odor surrounding the foundations is to shut all of them down.”
Dan Perkins is a current events commentator for the DailyCaller.com, TheHill.com, Clash Daily.com, the DailySurge.com, and Reaganbaby.com. He is the author of the Trilogy on radical Islamic nuclear terrorism against the United States call the Brotherhood of the Red Nile. He can be heard on Tuesday evenings at 8 PM on W4CY radio.com.