William J. Clinton Foundation
The William J. Clinton Foundation is a nonprofit corporation established in 1997. The Foundation is dedicated to preserving the legacy of President Bill Clinton, his record of presidential leadership, as well as several ongoing initiatives.
The Foundation raised funds and constructed the William J. Clinton Presidential Center in downtown Little Rock. The mission of the Foundation in creating the Presidential Center is "to establish and support a Presidential archival depository, ... to house and preserve the books, correspondence, documents, papers, pictures, photographs, and other memorabilia of William J. Clinton, the President of the United States of America, as well as other objects or materials related to the papers or events of the official or personal life of William J. Clinton that have historical or commemorative value, and to undertake and support research and educational activities on policy and historical issues related to the life and work of William J. Clinton."
The Foundation controls about half of the square footage of the Clinton Presidential Center, including a cafeteria, meeting rooms, a private fourth floor Clinton Library apartment, and the Clinton Library gift shop.
According to the Presidential Libraries Act of 1986 the regular operation of the Clinton Library must be supported by endowment funds. In 2004 the Clinton Foundation turned over a privately-raised endowment of $7.2 million.
Other projects of the Foundation involve "responding to challenges of the global neighborhood; responding to the challenge of September 11; promoting reconciliation and cooperation among the world's ethnic, racial, and religious groups; promoting economic empowerment through opportunity and responsibility; and supporting a new generation of leaders."
At the time, the pricetag for Clinton's presidential library - to be built at an estimated cost of up to $200 million - worried many prominent Democratic fundraisers. The Foundation collected $9.9 million in donations in 2001.
- Don Van Natta, Jr., "Going Is Tough for Clinton Library Campaign, Backers Say," New York Times, April 29, 2002.