DNC Reports Record Low Donations While Obama Foundation Rakes in Millions

July 17, 2017

The Democratic National Committee has hit a record low in fundraising while the Obama Foundation reported millions in donations this year.

The DNC hit a record low in May of this year, raising only $4.29 million, the Washington Times reported. The total was the lowest amount for the month of May since 2003.

The DNC took in $4.7 million in April and $6.5 million in March. The committee also reported having $1.9 million in debt in May.

Meanwhile, former President Barack Obama's foundation has been raking in donations. The Obama Foundation on Friday released a list of its donations, which have been piling up since January.

There are eight donors listed on Obama's foundation website that have contributed at least one million dollars. Billionaire John Doerr, Exelon Corporation, Hutchins Family Foundation, Microsoft Corporation, New York Community trust, Cari & Michael J. Sacks, Beth and David Shaw, and Michelle Yee & Reid Hoffman all contributed over a million dollars to the foundation.

The Obama Foundation, which is run by Obama's longtime friend Martin Nesbitt and former White House political director David Simas, is intending to build a $500 million library to be completed by 2021.

According to an economic study done for the foundation, spending is estimated to be at $675 million including start-up costs, construction, programming, staff, and other operating expenses from 2015 to 2021.

"While President Obama was still in office, the Obama Foundation applied self-imposed restrictions on its fundraising activity. Now that the president is no longer in office, those restrictions no longer apply, but the Obama Foundation will continue to vet and publicly disclose all large contributions," an Obama Foundation official told the Chicago Sun-Times.