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Cinnamon

Clinton Charity Spends Nearly 80 Percent on Administrative Costs

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The Canadian affiliate of the Clinton Foundation is spending an astounding 78 percent of the money it raises on administrative costs, according to the Globe and Mail.

The Clinton Giustra Enterprise Partnership (CGEP) spent nearly 8 dollars for every 10 that it raised on salaries, office supplies, expenses, salaries and consulting fees, according to filings with the Canada Revenue Agency. The charity only spent 22 percent on “charitable programs.”

The CGEP was set up by Canadian mining investor Frank Giustra,  who is one of the largest contributors to the Clinton Foundation and a frequent traveling partner with Bill Clinton.  Most of the funding has come from mining executives and companies.  The CGEP was primarily set up so that Canadians contributing to the Clinton Foundation would receive a tax deduction in Canada.

CGEP officials defended the amount of money spent on administrative costs.

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Administrative costs are a great way to launder money! 

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