Deep-pocketed donors to the Clinton Foundation are having second thoughts about contributing in 2015:
A handful of deep-pocketed donors are reconsidering their gifts to the $2 billion Clinton Foundation amid mounting questions about how it’s spending their money and suggestions of influence peddling, according to donors and others familiar with the foundation’s fundraising.
One major donor who contributed at least $500,000 to the foundation last year said a 2015 donation is less likely because of revelations about sloppy record-keeping and huge payments for travel and administrative costs.“There are a lot of factors and the reputational is among them,” said the donor, who did not want to be identified discussing philanthropic plans that have not been finalized. “We had some questions about how the money was being spent — and that was long before the problems were in the press.”
At least three other major donors also are re-evaluating whether to continue giving large donations to the Bill, Hillary & Chelsea Clinton Foundation, according to people familiar with its fundraising.
The surest sign that the Clinton Foundation scandal is having a negative effect on Hillary’s campaign is having major donors backing away from the Foundation. In many instances, the big money donors to the Clinton Foundation are writing maximum-sized checks for Hillary’s campaign, too.
It isn’t just the scandal’s existence, either. It’s the perception that the Clinton ‘cat’ has used its 9th live. In the past, donors believed that the Clintons would prevail because they’re survivors. Based on these reactions, it’s apparent that these contributors aren’t confident of the Clintons prevailing.
The uncertainty comes at the beginning of what was supposed to have been a four-month victory lap of sorts — starting with Bill and Chelsea Clinton’s trip to Africa with major donors this week. Next week’s splashy Clinton Global Initiative conference in Marrakesh was originally supposed to have been followed by a lavish reception and conference in Athens in June, and finally a September extravaganza in Manhattan featuring an appearance by Elton John.
Instead, it’s turned into heartburn for Hillary Clinton’s campaign for the Democratic presidential nomination and for the foundation, which has been under increasing pressure to distance itself from its more controversial partners.
The Democratic nomination is still Hillary’s to lose, mostly because of the pathetic field of candidates available. That isn’t good news for Democrats, though, because this controversy will be waiting for her at the start of the general election campaign. Thanks to this full-fledged scandal, Hillary’s attempt to reinvent herself won’t work.