Earlier this week, we reported on some shady business over at the Clinton Foundation. As we showed, in 2013 only roughly 10 percent of the Foundation’s revenues actually went to charitable grants, while the remaining 90% covered all other expenses.
Salaries and benefits are the largest expense, naturally. And if you think I’m being selective with my data, in 2014 they spent less than 3 percent of their funds on charity.
Oh — and half of those charitable contributions were to their own foundation.The Wall Street Journal has dug through the Foundation’s records, and revealed what else qualifies as “charity” to the Clintons:
[The Foundation] set up a financial commitment that benefited a for-profit company part-owned by people with ties to the Clintons, including a current and a former Democratic official and a close friend of former President Bill Clinton.
The $2 million commitment was placed on the agenda for a September 2010 conference of the Clinton Global Initiative at Mr. Clinton’s urging, according to a document from the period and people familiar with the matter.The firm they helped, Energy Pioneer Solutions, is on track to become the next Solyndra, as it has yet to turn a profit.
So who are the owners of Energy Pioneer? Their founder was a Democrat candidate for Congress in Nebraska, their next largest equity holder is a lifelong friend of the Clintons, one is the DNC’s treasurer, and one owns a separate firm that sells campaign goods — including to Hillary Clinton.Think there may be a bit of a conflict of interest there?
The Clinton Global Initiative’s help for a for-profit company part-owned by Clinton friends poses a different issue. Under federal law, tax-exempt charitable organizations aren’t supposed to act in anyone’s private interest but instead in the public interest, on broad issues such as education or poverty.
“The organization must not be organized or operated for the benefit of private interests,” the Internal Revenue Service says on its website.
This is how the Clinton’s treat your charitable contributions — just wait till you see what they’ll do with your taxes.
[Note: This post was authored by Matt Palumbo. Follow him on Twitter @MattPalumbo12]