The Obama Foundation raised $160 million last year, just 10% of its five-year goal of $1.6 billion
Former President Barack Obama speaks during the ceremony for the official groundbreaking of the Obama Presidential Center in Chicago's Jackson Park on Sept. 28, 2021. At left is Illinois Gov. J.B. Pritzker and at right is former first lady Michelle Obama.
The foundation’s total revenue for 2021 of $160 million, almost all of it from fundraising, only gets it 10% of the way there, according to the foundation’s annual report, which is traditionally released each August.It was the second lowest revenue total the foundation has recorded since its founding, according to the report. The lowest total was in 2019, when revenues amounted to $139 million. Two years earlier the foundation recorded its highest revenue, $232 million.
At the end of 2021, net assets were $680 million, up 21% from the previous year. The foundation’s board also launched an endowment in 2021, seeding it with $1 million. “It’s hard to believe that it’s only been five years since Michelle and I launched the Obama Foundation — especially because so much has changed since then,” the president wrote in the annual report’s introduction.
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