Obama library foundation now allows corporate donations, millions roll in
Barack Obama’s presidential library foundation has reportedly lifted the donor restriction imposed while he was in the White House, resulting in million-dollar gifts from such corporations as Microsoft and Exelon.
The foundation reported Friday that eight donors have pledged at least $1 million and that it has raised $1.2 million in the second quarter of 2017.
The list of million-dollar donors would bring total fundraising amounts to at least $8 million toward the projected $500 million cost of the library-museum on the South Side of Chicago. The project is scheduled to be completed in 2021.
The foundation started in 2014 and reportedly raised $5.4 million in its first year. However, the foundation’s total fundraising amounts since its start are unclear.
The foundation on Saturday did not immediately return requests for that amount.
A foundation official recently told the Chicago Sun-Times that the organization lifted its self-imposed donor “restrictions” when Obama left office in January but will “continue to vet and publicly disclose all large contributions.”
The foundation was previously not accepting contributions from for-profit groups, federal lobbyists and foreign nationals.
Other million-dollar donors reported Friday by the foundation include Ann and John Doerr and the Hutchins Family Foundation.