Obama Foundation Raised $5.4 Million in 2014 for Presidential Library

The Barack Obama Foundation received a total of $5.43 million from eleven donors in 2014 toward construction of the future Barack Obama Presidential Center, according to a tax form posted on the foundation's website.

In its initial tax return (39 pages, PDF), the foundation also reported $1.95 million in expenses, including nearly $558,000 in fundraising costs. Donations include a pledge of $1 million over three years from the Chicago-based Joyce Foundation — on whose board Obama served before he ran for the U.S. Senate in 2004 and which paid him $70,000 in director's fees, according to Politico. Other donors include Fred Eychaner, founder of Chicago-based Newsweb Corp. and a major Democratic donor ($1 million); Michael J. Sacks — a Chicago business executive with close ties to Chicago mayor Rahm Emanuel, Obama’s former chief of staff — and his wife, Cari ($666,666); investor and philanthropist Ian Simmons, who is married to Liesel Anne Pritzker, the niece of  U.S. Commerce Secretary Penny Pritzker ($500,000); Sonya and Tom Campion, Seattle-based philanthropists who have previously donated to Obama's political campaigns ($500,000); philanthropists and gay rights advocates Tim Gill and Scott Miller ($432,876); and Simons Foundation board chair James Simons and his wife, Marilyn, the foundation's president ($340,000).

The foundation announced earlier this month that it would establish the presidential center on the South Side of Chicago on a site proposed by the University of Chicago, having also considered bids from Columbia University, the University of Hawai‘i, and the University of Illinois at Chicago. While it has not announced an official fundraising goal, the foundation is expected to seek to raise more than $500 million to build the library.

"Barack Obama Foundation 2014 Form 990." Barack Obama Foundation Website 05/18/2015. Josh Gerstein. "Obama's Foundation Brings In $5.4 Million." Politico 05/18/2014. Jim Kuhnhenn. "Obama Library Foundation Raised $5.4 Million in 2014." Associated Press 05/18/2015.