Clinton Foundation donations plunged in 2020
Clinton Foundation CEO Kevin Thurm cited the COVID-19 pandemic’s impact on donations
Donations to the Clinton Foundation declined to $16.3 million in 2020, marking the smallest tally of contributions in several years, according to the organization’s annual financial report.
The 2020 contributions plummeted compared to the previous year when the Clinton Foundation received $29.6 million. Donations are down nearly 75% compared to 2016, when the foundation received $62.9 million as former Secretary of State Hillary Clinton ran for president.
Clinton Foundation CEO Kevin Thurm cited the COVID-19 pandemic’s impact on donations in a letter addressing the foundation’s annual financials. He noted the foundation’s "work was fully funded" last year through donations and its endowment despite the downturn.
"While 2020 brought urgent needs to address from the pandemic and a deepened focus on diversity, equity and inclusion, it also was a difficult year for philanthropy," Thurm said. "Across the sector, resources were stretched thinly and fundraising activities were impacted."
The foundation pulled $15 million from its endowment to help cover the shortfall in donations. The endowment was valued at more than $235 million as of the end of 2020, up from roughly $217 million the previous year, as the foundation made gains from its investments.
Thurm said much of the foundation’s initiatives last year were related to pandemic relief, including efforts to address food insecurity and opioid-related overdoses.
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Axios was first to report on the numbers.
Top Clinton Foundation donors in 2020 included the government of Norway, Cheryl and Haim Saban and members of the Walton family, according to the organization’s website.
This story has been updated.