President Obama’s friends filed incorporation papers at the end of January 2014 for The Barack H. Obama Foundation, the same name of the 501(c)(3) charity that his brother uses, The Barack H. Obama Foundation, which is billed as honoring their mutal father, Barack H. Obama, Sr., but the letters “Sr.” do not show-up on Malik’s “charity” page. Will the two foundations share banks?
The first steps toward building President Barack Obama’s library and museum were announced on Friday with the launch of a foundation to oversee the competitive selection process with the target date of picking a site early in 2015.
Martin Nesbitt, Obama’s close friend who will run the effort with two other Obama associates, told me in an interview they are committed to a “thoughtful, consistent, fair and transparent” process with the ultimate choice left to Obama and first lady Michelle.
“We have no preconceived idea about what these proposals will look like. We want to create a blank canvass, create sort of a white canvas with some guiding principles that allow people to respond in a thoughtful and creative way and we will evaluate them when they come in,” Nesbitt said.
Incorporation papers for the newly created Barack H. Obama Foundation were filed Friday in Washington, D.C.
The foundation is led by Chicagoan Nesbitt, the co-CEO of The Vistria Group and treasurer of Obama’s two White House campaigns; Julianna Smoot, a co-chair of the 2012 re-election bid and the 2008 National Finance Director and J. Kevin Poorman, the Wilmette businessman who took over several companies run by Commerce Secretary Penny Pritzker when she stepped down to join Obama’s cabinet. Source: SunTimes
The venture is expected to cost in excess of $500 million. Can you see a mere $500 million covering anything the first couple does? My bet is, he gets two libraries funded, one in Chicago and one in Hawaii, and both costing far more than $500 million.
So, two foundations under the same name. The Barack H. Obama Foundation. Clever? Convenient?
Background and Related
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