10:08 AM, Apr 26, 2015 • By DANIEL HALPER
The Clinton Foundation is now admitting that mistakes were made. "[Y]es, we made mistakes, as many organizations of our size do, but we are acting quickly to remedy them, and have taken steps to ensure they don't happen in the future. We are committed to operating the Foundation responsibly and effectively to continue the life-changing work that this philanthropy is doing every day," says Clinton Foundation acting CEO Maura Pally in a blog post.
The blog post reads:
Over the past few days, many questions have been raised about the Clinton Foundation, its initiatives, and the financial support that allows us to do the uniquely impactful philanthropic work that we do at home and around the world.
Without question the Foundation’s accomplishments stand on their own. From fighting obesity by helping create healthier learning environments for more than 11 million students; to working to combat one of our greatest global threats, climate change; to lowering the price of lifesaving antiretroviral drugs that have benefited more than 9 million people fighting HIV/AIDS; one thing is clear, the Clinton Foundation has not been afraid to take on big challenges and see real results.
Just as important as the results we see, is how the Foundation has transformed philanthropy into a collaborative effort by bringing NGOs, local stakeholders, government officials, private sector actors, and others together to maximize their collective investments. It seems logical, but fifteen years ago, that just wasn’t how philanthropy was done.
As the Foundation’s impact has grown, so too has its commitment to transparency. When Hillary Clinton was appointed Secretary of State, we took unprecedented steps to avoid potential conflicts of interest by going above and beyond what is required of any philanthropy and instituted voluntarily annual disclosure of all of our donors on our website. We also established a policy around the foreign government contributions we accept, recognizing that in order to continue our life improving work we rely on the contributions of government, as is the case with most large scale global charities.
Today, our donor disclosure and foreign government contributor policy is stronger than ever. Since Secretary Clinton decided to run for President, we have committed to disclosing all of our donors on a quarterly basis. In addition, we announced that we will only accept funding from a handful of governments, many of whom the Foundation receives multi-year grants from, to continue the work they have long partnered on.
The Foundation has 11 different initiatives, some of which function in organizationally different ways. One of these 11 initiatives is the Clinton Giustra Enterprise Partnership (CGEP), which is focused on advancing innovative solutions to poverty alleviation on a global scale. CGEP has come under heightened scrutiny this past week and I want to explain how it operates.
The Clinton Foundation executes all of the work that CGEP does. CGEP does receive financial backing for projects from an independent Canadian charity called the Clinton Giustra Enterprise Partnership (Canada), which Frank Giustra established so that Canadians could support the initiative’s valuable work and receive a charitable tax credit. CGEP (Canada) provides funding on a project-by-project basis and this money goes exclusively to CGEP projects, not to the Foundation’s general operating fund.
Like every contributor to the Foundation, the Clinton Giustra Enterprise Partnership (Canada) is publicly listed as a donor on our website. But as it is a distinct Canadian organization, separate from the Clinton Foundation, its individual donors are not listed on the site. This is hardly an effort on our part to avoid transparency – unlike in the U.S., under Canadian law; all charities are prohibited from disclosing individual donors without prior permission from each donor.
I also want to address questions regarding our 990 tax forms. We have said that after a voluntary external review is completed we will likely refile forms for some years. While some have suggested that this indicates a failure to accurately report our total revenue, that is not the case. Our total revenue was accurately reported on each year's form – our error was that government grants were mistakenly combined with other donations. Those same grants have always been properly listed and broken out and available for anyone to see on our audited financial statements, posted on our website.
So yes, we made mistakes, as many organizations of our size do, but we are acting quickly to remedy them, and have taken steps to ensure they don't happen in the future. We are committed to operating the Foundation responsibly and effectively to continue the life-changing work that this philanthropy is doing every day. I encourage you to read more about that good work at www.clintonfoundation.org.
Share of Each Taxpayer Dollar Spent on Health Care Up 22 Percent Since 2012.
7:43 AM, Apr 16, 2015 • By JERYL BIER
Every year since 2011, the White House has used tax time to post a "Federal Taxpayer Receipt" showing taxpayers how their federal tax dollars are being spent.
3:50 PM, Apr 15, 2015 • By ETHAN EPSTEIN
The Daily Beast’s Michael Tomasky is celebrating this April 15 by declaring that America is “the most undertaxed advanced country in the world.” He claims that this chart offers proof of his assertion.
3:15 PM, Apr 9, 2015 • By KIMBERLY PINTER
In response to this post, several readers have accurately pointed out that a page of the IRS website, posted on March 25, clearly states that, “If you are not required to file a tax return and don’t want to file a return, you do not need to file
9:46 AM, Apr 3, 2015 • By KIMBERLY PINTER
UPDATE: Several readers have accurately pointed out that a page of the IRS website posted on March 25 clearly states that “If you are not required to file a tax return and don’t want to file a return, you do not need to file a return solely to claim this exemption.”
7:23 AM, Mar 20, 2015 • By JEFFREY H. ANDERSON
Given that Obamacare’s supporters like to take the Congressional Budget Office’s overly optimistic scoring of the president’s signature legislation as gospel, it’s fun to look at how poorly Obamacare is actually doing in relation to earlier CBO projections. When the Democrats rammed Obamacare through Congress in 2010 without a single Republican vote, the CBO said that the unpopular overhaul would lead to a net increase of 26 million people with health insurance by 2015 (15 million through Medicaid plus 13 million through the Obamacare exchanges minus 2 million who would otherwise have had private insurance but wouldn’t because of Obamacare).
9:24 AM, Mar 17, 2015 • By DANIEL HALPER
Senator Ben Sasse has introduced a law to eliminate the amnesty tax bonuses, according to a press release from his office.
“Presidents should enforce the laws—not unilaterally rewrite them—and it’s time for Congress to hold this Administration accountable,” Sasse says in a statement. “By preventing this Administration from issuing new Social Security Numbers to illegal aliens, the ABE Act would help restore the rule of law and save taxpayers billions of dollars.”
9:00 PM, Feb 2, 2015 • By DANIEL HALPER
Senator Jeff Sessions, the former ranking member of the Senate Budget Committee, says President Obama's proposed budget "raises taxes by $2.1 trillion."
"The President has sent another tax-and-spend budget to Congress," Sessions says in a statement responding to Obama's proposed budget.
Has there ever been a president so contemptuous of his own supporters?10:48 AM, Jan 23, 2015 • By ETHAN EPSTEIN
In spite of his own mostly impressive educational pedigree, President Obama has always harbored an anti-intellectual (or, to be generous, anti-academic) streak. Whether insulting art history in a failed appeal to "Real 'Muricans," or developing a philistine "College Scorecard," which reduces the entire value of education to future earnings, it's become apparent that in the president's estimation, American higher education should basically be a network of pretty good trade schools. You know, the kind of place where the “folks” drop their G’s when engaging in conversation.
2:50 PM, Jan 21, 2015 • By IKE BRANNON
Republicans have been tripping over one another to slag President Obama’s tax proposal, made in his State of the Union address, to repeal the step-up in basis on inherited wealth and use the revenue it would generate to increase the child tax credit and pay for free community college. While it’s almost Pavlovian for Republicans to attack any Obama tax proposal, this one actually contains the seeds for a radical tax reform that would be much more conducive to economic growth than anything currently on Paul Ryan’s desk.
Congress’s GSE reform plan has relatively little reward for the taxpayer without absolving them of all risk.1:10 PM, Sep 30, 2014 • By IKE BRANNON
Few people are happy with the limbo in which Fannie Mae and Freddie Mac currently dwell. The Treasury placed the two government-sponsored entities that buy and guarantee the bulk of all mortgages issued in the United States into a conservatorship in 2008 after the collapse of the housing market, which decimated the value of the loans they held and rendered the two insolvent.