How’s That Library Coming Along, Obama? – IOTW Report

How’s That Library Coming Along, Obama?

 

Normally at this point in a President’s tenure he is focused on fundraising and planning for his legacy library and not trying to defend his one signature program.  So I decided to poke around the internet to see how the 44th president is doing on the institution that will house all the paperwork generated by this administration.

They’ve chosen a city (Chicago) a site (Jackson Park, near the University of Chicago) and have even formed an executive committee.  The construction cost are expected to run some were North of $500 million plus another $300 million to outdo “W”‘s library.  They expect to open sometime in 2020-21.

Knowing that he’s got to raise nearly $800 million in four short years, you’d think the namesake would be out there hustling for donations.  You’d be wrong.

According to the Obama Foundation’s independent auditor they reported about $2.348 million in cash at the end of 2015 with total net assets of just under $4 million.  See Here

This article from August 2015 says that they raised $5.4 million from just 12 donors, yet they spent nearly half by the end of that year. That’s quite a burn rate.

The financials for 2016 won’t be ready before May of this year, but when they are made available it will make for some interesting reading.

 

 

 

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