Obama Foundation raised $13 million in 2016 – Consumer News

on May17

17 May 2017 | 6:15 pm

The Obama Foundation raised $13.175 million in 2016, up from $1.916 million in 2015, according to its 990 filing, the tax form that the IRS requires of nonprofits. The foundation showed an operating surplus of $8.3 million, up from an operating deficit of $904,642 in 2015. The 43-page document was made available on Obama.org, the foundation’s website. Other gleanings from it:

Salaries: The IRS requires organizations to detail reportable compensation of more than $100,000. For the Obama Foundation, that includes $490,627 for Robbin Cohen, executive director; $248,121 for Michael Strautmanis, vice president of civic engagement; $204,224 for Roark Frankel, vice president of design and construction; and $180,000 for Elisabeth Siciliano, chief of staff. David Simas, who served the Obama Foundation in Washington, joined the foundation as CEO late in 2016.

Vendors:The foundation paid $838,568 for legal services to Chicago-based Katten Muchin Rosenman, where former Chicago Mayor Richard M. Daley is of counsel; $532,848 to New York-based Blue State Digital for marketing and communications services; $372,937 to Chicago firm Grenzebach Glier for fundraising consulting services; $305,224 to Obama Presidential Center architects Billie Tsien and Tod Williams; and $187, 500 to Glenn Otis Brown, the foundation’s chief digital officer, for digital consulting. Lakefront Strategies, operated by Jordan Kaplan, the foundation’s chief development officer, was paid $96,000 for services. The foundation also paid $18,601 for art from Project Onward, a nonprofit that supports gifted artists who have disabilities. The art adorns the foundation’s office at 5235 S. Harper Court in Chicago.

Donors: The $1 million club includes the George Lucas Family Foundation (the filmmaker is married to Mellody Hobson, president of Ariel Investments and newly appointed chair of the Economic Club of Chicago); the Hutchins Family Foundation, established by Silver Lake Partners co-founder Glenn Hutchins; former U.S. Ambassador Fay Hartog-Levin and Daniel Levin; former U.S. Ambassador Louis B. Susman and Marjorie Susman; Fidelity Charitable; and Hauptman Family Foundation.

Serious fundraising for the Obama Presidential Center, expected to cost upwards of $600 million and funnel billions into the local economy, began the evening of May 3. Former President Barack Obama and his wife, Michelle, visited Chicago to unveil initial plans for the center and attend a fundraiser. Given the momentum, one expects the foundation’s 2017 990 will look even brighter.



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