THE BARACK OBAMA FOUNDATION

EIN: 464950751 501(c)(3) Arts, Culture & Humanities

CHICAGO, IL

Total Revenue
$209,759,915
Total Expenses
$91,442,238
Total Assets
$1,106,193,451
Net Assets
$1,071,275,709
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Financial Trends

Organization Details

Formation Year
2014
Legal Domicile
DC
Principal Officer
VALERIE JARRETT
Phone
7734201700
Tax Period
2024-01-01 to 2024-12-31

THE BARACK OBAMA FOUNDATION, founded in 2014, is a major nonprofit in the Arts, Culture & Humanities sector that reported $209.8M in total revenue in fiscal year 2024. Revenue surged 49% from the prior year, signaling strong growth momentum. The organization ran a surplus of $118.3M, a strong 56% operating margin.

Mission

THE FOUNDATION ACQUIRES ITS COLLECTIONS BY PURCHASE OR BY DONATION. THE FOUNDATION'S COLLECTIONS MANAGEMENT POLICY INCLUDES GUIDANCE ON THE FOUNDATION'S COLLECTIONS STEWARDSHIP RESPONSIBILITIES FROM INTAKE AND ACQUISITION THROUGH PRESERVATION, ACCESS AND USE, AND DEACCESSIONING AND DISPOSAL OF MATERIALS THAT NO LONGER SUPPORT THE FOUNDATION'S PUBLIC MISSION. THIS POLICY DOES NOT PERTAIN DIRECTLY TO THE MANAGEMENT OF THE OBAMA PRESIDENTIAL ARCHIVE, WHICH IS MAINTAINED AS A SEPARATE COLLECTION PROPERTY OF THE NATIONAL ARCHIVES AND RECORDS ADMINISTRATION AND IS NOT INCLUDED IN THE STATEMENT OF FINANCIAL POSITION OF THE FOUNDATION, NOR IS THE FOUNDATION RESPONSIBLE FOR THE MAINTENANCE OR PRESERVATION OF ITEMS IN THESE COLLECTIONS. THE VALUE OF THE FOUNDATION'S COLLECTIONS IS NOT SUBJECT TO REASONABLE ESTIMATE, AND THEREFORE ARE NOT RECOGNIZED AS ASSETS IN THE STATEMENTS OF FINANCIAL POSITION. PURCHASES OF COLLECTION ITEMS ARE RECORDED IN THE STATEMENT OF ACTIVITIES AND CHANGES IN NET ASSETS AS DECREASES IN NET ASSETS WITHOUT DONOR RESTRICTIONS IN THE PERIOD OF ACQUISITION, UNLESS THE ITEMS WERE PURCHASED WITH DONOR RESTRICTED FUNDS IN WHICH CASE THEY ARE SHOWN AS DECREASES IN NET ASSETS WITH DONOR RESTRICTIONS. PROCEEDS FROM THE SALE OF DEACCESSIONED MATERIALS WILL BE UTILIZED EXCLUSIVELY FOR THE PURCHASE OF FUTURE COLLECTION ACQUISITIONS, INCLUDING COSTS DIRECTLY RELATED TO OBTAINING, CONSERVING, OR PROCESSING NEW ACQUISITIONS. DEACCESSIONING PROCEEDS WILL NOT BE USED TO PAY FOR DIRECT CARE OF THE COLLECTION BEYOND THE INITIAL COST OF ACQUISITION.

Program Service Accomplishments

Program 1
Expenses: $27,508,813

OBAMA FOUNDATION PROGRAMMING:IN SERVICE OF THE FOUNDATION'S MISSION TO INSPIRE, EMPOWER, AND CONNECT PEOPLE TO CHANGE THEIR WORLD, THE FOUNDATION CONTINUED TO WORK WITH YOUNG LEADERS IN A VARIETY OF...

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OBAMA FOUNDATION PROGRAMMING:IN SERVICE OF THE FOUNDATION'S MISSION TO INSPIRE, EMPOWER, AND CONNECT PEOPLE TO CHANGE THEIR WORLD, THE FOUNDATION CONTINUED TO WORK WITH YOUNG LEADERS IN A VARIETY OF LOCAL, NATIONAL, AND GLOBAL PROGRAMS.SCHOLARS: OUR SCHOLARS PROGRAM SUPPORTS LEADERS AROUND THE WORLD WHO ARE READY TO TAKE THEIR WORK TO THE NEXT LEVEL VIA A ONE-YEAR RESIDENTIAL PROGRAM THAT BRINGS TOGETHER ACADEMIC, SKILLS-BASED, AND HANDS-ON LEARNING. FOR THE 2023-2024 SCHOOL YEAR, THE SCHOLARS PROGRAM INCLUDED 18 SCHOLARS AT THE UNIVERSITY OF CHICAGO AND 12 SCHOLARS AT COLUMBIA UNIVERSITY.LEADERS: LEADERS AFRICA, ASIA-PACIFIC, EUROPE, AND USA ARE EACH LEADERSHIP PROGRAMS AIMED AT BUILDING AND EMPOWERING REGIONAL NETWORKS OF CHANGEMAKERS. THE REGIONAL COHORTS PARTICIPATE IN VALUES-BASED LEADERSHIP TRAINING. THE LEADERS AFRICA PROGRAM BEGAN IN 2018, THE LEADERS ASIA-PACIFIC PROGRAM LAUNCHED IN 2019, THE LEADERS EUROPE PROGRAM LAUNCHED IN 2020, AND THE LEADERS USA PROGRAM LAUNCHED IN 2022. THE AFRICA, ASIA-PACIFIC, AND EUROPE COHORTS EACH CONTAIN 35 MEMBERS, AND THE USA COHORT CONTAINS 100.THE VOYAGER SCHOLARSHIP: THE OBAMA-CHESKY SCHOLARSHIP FOR PUBLIC SERVICE, LAUNCHED IN 2022 WITH THE SELECTION OF 100 STUDENTS TO RECEIVE SCHOLARSHIPS. EACH YEAR, 100 NEW STUDENTS ARE SELECTED TO RECEIVE SCHOLARSHIPS AND PARTICIPATE IN THE TWO-YEAR PROGRAM. THE VOYAGER SCHOLARSHIP IS DESIGNED TO BUILD THE NEXT GENERATION OF LEADERS COMMITTED TO PUBLIC SERVICE THROUGH A TRANSFORMATIONAL COMBINATION OF BARRIER-REDUCING FINANCIAL AID AND MEANINGFUL, EDUCATIONAL TRAVEL EXPERIENCES.THE OBAMA LEADERSHIP NETWORK ('OLN'): OLN CONNECTS ALL FOUNDATION LEADERSHIP PROGRAMS ALUMNI TO EACH OTHER, TO INCREASE THEIR INDIVIDUAL AND COLLECTIVE IMPACT AND HELP THEM SUSTAIN THEMSELVES AS LIFELONG VALUES-BASED LEADERS. THE FOUNDATION SUPPORTS THIS NETWORK THROUGH A VARIETY OF VIRTUAL AND IN-PERSON ACTIVITIES TO FOSTER CONNECTION, CONTINUED DEVELOPMENT, COMMUNITY, AND COLLABORATION. BY THE END OF 2024, OLN GREW TO INCLUDE 1,209 LEADERS IN NEARLY 150 COUNTRIES ACROSS 20 COHORTS OF OBAMA LEADERS, SCHOLARS, FELLOWS AND VOYAGERS.GIRLS OPPORTUNITY ALLIANCE: THE GIRLS OPPORTUNITY ALLIANCE SEEKS TO EMPOWER ADOLESCENT GIRLS AROUND THE WORLD THROUGH EDUCATION, ALLOWING THEM TO ACHIEVE THEIR FULL POTENTIAL AND TRANSFORM THEIR FAMILIES, COMMUNITIES, AND COUNTRIES. THE PROGRAM ENGAGES PEOPLE AROUND THE WORLD TO TAKE ACTION TO HELP ADOLESCENT GIRLS AND THE GRASSROOTS LEADERS WORKING TO EDUCATE THEM.MY BROTHER'S KEEPER ALLIANCE: THE MBK ALLIANCE LEADS A NATIONAL CALL TO ACTION FOCUSED ON BUILDING SAFE AND SUPPORTIVE COMMUNITIES FOR BOYS AND YOUNG MEN OF COLOR WHERE THEY FEEL VALUED AND HAVE CLEAR PATHWAYS TO OPPORTUNITY.

Program 2
Expenses: $23,617,548

OBAMA PRESIDENTAL CENTER:IN 2024 THE OBAMA FOUNDATION CONSTRUCTION ACTIVITIES INCLUDED COMPLETING THE MUSEUM BUILDING SUPERSTRUCTURE AND THE COMMENCEMENT AND INSTALLATION OF APPROXIMATELY 45% OF THE...

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OBAMA PRESIDENTAL CENTER:IN 2024 THE OBAMA FOUNDATION CONSTRUCTION ACTIVITIES INCLUDED COMPLETING THE MUSEUM BUILDING SUPERSTRUCTURE AND THE COMMENCEMENT AND INSTALLATION OF APPROXIMATELY 45% OF THE EXTERIOR CLADDING (STONE AND GLASS/CURTAINWALL) ACROSS THE MUSEUM, FORUM, AND LIBRARY BUILDINGS. CONSTRUCTION BEGAN ON THE ATHLETIC CENTER ("HOME COURT") AND BY YEAR'S END THE OVERALL CONSTRUCTION PROGRESS ON THE ATHLETIC CENTER WAS APPROXIMATELY 40% COMPLETE. INTERIOR FIT-OUT WORK BEGAN ON ALL FOUR CAMPUS BUILDINGS. ACTIVITIES ALSO INCLUDED ADVANCING THE MUSEUM COMPONENT THROUGH ACCELERATED EXHIBITION FABRICATION, MEDIA DEVELOPMENT, AND ARTIFACT MOUNTMAKING; ONGOING ARTIFACT COLLECTING, PRESERVATION, AND MANAGEMENT; AND EXPANDED ARTS COMMISSIONING ACTIVITY AND ARTS PROGRAM PLANNING. OPERATIONAL PLANNING BEGAN, FOCUSED ON FACILITIES, SECURITY, VISITOR EXPERIENCE, AND EARNED INCOME. IN ANTICIPATION OF THE OPENING OF THE OBAMA PRESIDENTIAL CENTER, REPRESENTATIVES OF THE FOUNDATION ALSO ATTENDED VARIOUS STAKEHOLDER AND COMMUNITY EVENTS THROUGHOUT THE CITY IN AN EFFORT TO BUILD STRONG RELATIONSHIPS AND SPREAD AWARENESS ABOUT THE OPC.

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

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Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $194,905,424
Program Service Revenue $0
Investment Income $14,843,290
Other Revenue $11,201
TOTAL REVENUE $209,759,915

Expense Breakdown

Grants Paid $11,386,511
Salaries & Benefits $43,693,713
Fundraising Expenses $23,633,986
Program Expenses $51,126,361
Other Expenses $33,933,574
TOTAL EXPENSES $91,442,238

Year-over-Year Comparison

2024 2023 Change
Revenue $209,759,915 $140,586,104 +0.5%
Expenses $91,442,238 $87,462,284 +0.0%
Net Income $118,317,677 $53,123,820 +1.2%
Key Indicators
Grants to Organizations Grants to Individuals Lobbying Political Activity Foreign Activities Donor Advised Fund Schedule B Required
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Governance

Voting Members
16
Independent Members
15
Employees
337
Volunteers
750

Governance Policies

Conflict of Interest Policy
Whistleblower Policy
Document Retention Policy

Special Practices & Reported Activities

Operated a School
Operated a Hospital
Provided First Class Travel
Reported Conflict of Interest
Reported Asset Diversion
Excess Benefit Transaction
Made Political Expenditures
Engaged in Lobbying
Operated Donor Advised Fund
Maintained Art Collections
Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers
9
$1,143,744
Total Directors
16
$755,862
Key Employees
10
$3,976,977
Highest Compensated
5
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
VALERIE JARRETT DIRECTOR/CEO 40.00
Officer Director
$740,000 $15,862 $755,862
DAVID PLOUFFE DIRECTOR/VP/SECRETARY 1.00
Officer Director
$0 $0 $0
GLENN HUTCHINS DIRECTOR/VICE CHAIRPERSON 10.00
Officer Director
$0 $0 $0
JOHN KEVIN POORMAN DIRECTOR/PRESIDENT 10.00
Officer Director
$0 $0 $0
MARTIN H NESBITT DIRECTOR/CHAIRPERSON 10.00
Officer Director
$0 $0 $0
MICHAEL SACKS DIRECTOR/VP 1.00
Officer Director
$0 $0 $0
PENNY PRITZKER DIRECTOR/VICE CHAIRPERSON 10.00
Officer Director
$0 $0 $0
ROBERT WOLF DIRECTOR/VP/TREASURER 2.00
Officer Director
$0 $0 $0
BRODERICK JOHNSON DIRECTOR 1.00
Director
$0 $0 $0
CONNIE BALLMER DIRECTOR 1.00
Director
$0 $0 $0
DEMOND MARTIN DIRECTOR 1.00
Director
$0 $0 $0
JOHN ROGERS DIRECTOR 1.00
Director
$0 $0 $0
JUAN SALGADO DIRECTOR 1.00
Director
$0 $0 $0
JULIANNA SMOOT DIRECTOR 1.00
Director
$0 $0 $0
SEAN PARKER DIRECTOR 1.00
Director
$0 $0 $0
THELMA GOLDEN DIRECTOR 1.00
Director
$0 $0 $0
AMMAR RIZKI CFO 40.00
Officer
$362,816 $25,066 $387,882
ROBBIN COHEN EVP, OPC 40.00
Key Emp
$610,195 $40,554 $650,749
ALFREDA BRADLEY-COAR EVP, CHIEF LEGAL & PEOPLE OFFICER 40.00
Key Emp
$424,769 $15,423 $440,192
CHRISTINA TCHEN EVP, STRATEGY & IMPACT 40.00
Key Emp
$397,992 $25,066 $423,058
LORI T HEALEY SVP, EXECUTIVE PROJECT OFFICER 40.00
Key Emp
$371,232 $25,066 $396,298
MICHAEL STRAUTMANIS EVP, EXTERNAL AFFAIRS 40.00
Key Emp
$351,815 $40,554 $392,369
LAURA LUCAS MAGNUSON EVP, GLOBAL PROGRAMS 40.00
Key Emp
$359,929 $25,526 $385,455
DANIEL MCGREGOR SVP, DEVELOPMENT (END 12/24) 40.00
Key Emp
$314,714 $22,236 $336,950
ELISABETH SICILIANO SVP, STRATEGY, GOVERNANCE & RISK 40.00
Key Emp
$291,459 $30,143 $321,602
CHARMAINE WILLIAMS SVP, CHIEF HUMAN RESOURCES OFFICER 40.00
Key Emp
$306,400 $14,011 $320,411
LOUISE BERNARD SVP, MUSEUM DIRECTOR 40.00
Key Emp
$287,308 $22,585 $309,893
JAMIE-CLARE FLAHERTY VP, DEPUTY GENERAL COUNSEL 40.00
Highest
$289,750 $22,896 $312,646
ROARK FRANKEL DIRECTOR OF PLANNING & DELIVERY 40.00
Highest
$262,144 $29,090 $291,234
CAITLIN GILMORE VP, FUNDRAISING & DEVELOPMENT 40.00
Highest
$272,584 $12,658 $285,242
RACHEL RAUSCHER VP, DEVELOPMENT OPERATIONS (END 6/24) 40.00
Highest
$270,808 $10,831 $281,639
ADREN WILSON EXEC. DIRECTOR, MBK & VP, YOUTH OPPORTUNITY PRGMS 40.00
Highest
$251,816 $21,386 $273,202
Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year Revenue Expenses Assets Net Income
2024 $209,759,915 $91,442,238 $1,106,193,451 $118,317,677
2023 $140,586,104 $87,462,284 $986,582,755 $53,123,820
2022 $309,284,239 $59,708,464 $944,959,493 $249,575,775
2021 $159,957,411 $40,550,456 $693,835,698 $119,406,955
2020 $171,374,663 $40,536,698 $563,740,541 $130,837,965
2020 $171,374,663 $40,536,698 $563,740,541 $130,837,965
2019 $141,308,493 $54,783,253 $439,375,134 $86,525,240
2018 $164,674,309 $45,888,380 $355,887,803 $118,785,929
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