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Tuesday, April 24, 2012

Philanthropy beat: Obama, Romney report donations | StarTribune.com

Here's a simplified reorganization of the facts about charitable contributions in this article. I assume these contributions are tax-deductible. The numbers come from the Obamas' 2011 tax returns and the Romneys' estimated tax returns released by his campaign in January.

President Barack Obama and his wife, Michelle, reported $789,674 in income in 2011.

Total contributions in 2011 were 22 percent of their income, including:
  • $172,000--the Fisher House Foundation, which provides free or low-cost housing to families of military members receiving treatment at military medical facilities.
  • $5,000--Habitat for Humanity, United Negro College Fund, the Boys and Girls Club, and the school attended by the Obamas' daughters, Sidwell Friends School.
  • More than two dozen smaller gifts--American Red Cross, Central Illinois Food Bank, Calvary Women's Shelter in Washington, D.C., and others.
Republican presidential candidate Mitt Romney and his wife, Ann, reported an estimated income of $20.9 million in 2011.

Total contributions in 2011 were 16 percent of their estimated income, including:
  • $2.6 million--Church of Jesus Christ of Latter-day Saints, the Mormon church.
  • $500,000 in cash and $920,000 in stocks--the Tyler Charitable Foundation (the Romney family foundation). 
  • (No information was available on Romney foundation grants in 2011, but the Chronicle of Philanthropy reported that from 1999 to 2010 the foundation made $7 million in grants, including $4.7 million to the Mormon church and $525,000 to Brigham Young University, Mitt Romney's alma mater.)

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