Democrats are being very generous with their political donations this year – but the money is not going to the Democratic Party – a large chunk of it is going straight to the Obama Foundation.
According to a report by the Washington Free Beacon, the Obama foundation website lists eight donors who have each pitched in at least one million dollars each. They are: Billionaire John Doerr, Exelon Corporation, Hutchins Family Foundation, Microsoft Corporation, New York Community trust, Cari & Michael J. Sacks, Beth and David Shaw, and Michelle Yee & Reid Hoffman.
The Chicago Sun-Times reported:
Asked if there are any self-imposed restrictions on donor money, an Obama Foundation official told the Chicago Sun-Times, “While President Obama was still in office, the Obama Foundation applied self-imposed restrictions on its fundraising activity. Now that the President is no longer in office, those restrictions no longer apply, but the Obama Foundation will continue to vet and publicly disclose all large contributions.”
Construction, initial start-up and operating costs through 2021 is estimated to be $675 million for the Obama Foundation and its presidential library.
Meanwhile, the Washington Times reported that the DNC is struggling in their fundraising efforts, bringing in a meager $4.29 million in May of this year, which is the lowest for the month of May since 2003.
In May, the DNC reported they have a $1.9 million debt.
Additional fundraising for the DNC was reportedly $6.5 million in March, and $4.7 million in April of this year.
In comparison, the Republicans have not reported any debt, and have reported bringing in a total of $10.9 million for May 2017.
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