(FinancialHealth.net) – In 2015, then-Vice President Joe Biden (D) lost his son Beau to brain cancer. After the death he began several nonprofits, including the Biden Cancer Initiative. In 2019, after announcing his decision to run for the Democratic nomination for president, the former VP shut it down to prevent ethical questions from being raised. It turns out he can’t hide from the inquiries.
Journalist Joe Schoffstall, with the Washington Free Beacon, started digging into Biden’s foundation, and what he found is quite shocking. Over 2 years, the organization raised $4.8 million.
According to its 2017 and 2018 tax documents, the Biden Cancer Initiative spent over $3 million on salaries and benefits for its employees — roughly 65% of the money raised. Another $1.7 million went toward its other expenses.
Joe Biden is the swamp
"The Biden Cancer Initiative paid top executives lavishly, w/salaries comprising nearly 65% of its total expenditures…well above the 25% charity watchdogs recommend nonprofits spend on administrative overhead" https://t.co/gpYov4auMK
— Elizabeth Harrington (@LizRNC) June 29, 2020
The foundation didn’t provide a single grant in its quest to find a cure for cancer. So, what exactly was the purpose of the Biden Cancer Initiative? Your guess is as good as ours.
~Here’s to Your Financial Health!
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