The coronavirus pandemic dealt a financial blow to the Clinton Foundation, which saw its donations fall by nearly 75% from the organization’s height when former Secretary of State Hillary Clinton was running for president, according to a report.
In a tax filing reported by Axios, the nonprofit organization founded by former President Bill Clinton said it received about $16.3 million in contributions during 2020. In the previous year, the organization reported $29.6 million in contributions, down from a peak of $62.9 million in 2016, when Hillary Clinton was the Democratic presidential nominee.
Addressing the financial difficulties, foundation CEO Kevin Thurm said last year “was a difficult year for philanthropy” in a letter accompanying its annual financial disclosure. “Across the sector, resources were stretched thinly and fundraising activities were impacted.”
According to Axios, the Clinton Foundation in the past has relied on large fundraising events to court donors, the kinds of gatherings that were impossible to host during the height of the COVID-19 pandemic. But the organization had been bleeding contributions before the pandemic, since Clinton lost her bid for the White House in 2016.
Several large donors have continued to support the foundation throug… (Read more)