Great news for those of you who love to travel to Chicago—the Obama library received $5.4 million in donations to kick-off its first year of development. It was announced last week that the library will be built in Chicago’s South Side, a neighborhood synonymous with working and middle-class families, and where President Obama began his political career. The non-profit group, the Barack Obama Foundation, which consists of close friends and family of the president, has estimated that the project would need an additional $495 million to be completed.
Who’s Funding The Obama Library?
The Barack Obama Foundation makes it fully clear where the donations are coming from and how that money is being used. This past week they posted their tax information on their website. Amongst the donors is The Joyce Foundation, another non-profit organization in the Chicago area, who gave $1 million. This sum was matched by Fred Eychaner, the publisher and founder of Newsweb Corporation. There are several other donors, all of which are being documented with that information being totally public. In terms of expenses, the Barack Obama Foundation has paid out thus far $2.5 million for real estate, fundraising, and various professional consultants. Further, the president has assured that the Obama library will not be funded by foreign nationals, currently registered federal lobbyists or foreign agents.
Why On Chicago’s South Side?
The president hopes that the Obama library will attract attention to the city of Chicago, but also this culturally diverse, working-class neighborhood. He hopes that the presence of the library will stimulate economic growth for local business in neighborhoods who may struggle amidst social problems related to poverty such as: gangs, drug usage, and unemployment.
Other Things To Do When You Travel To The South Side
See Frank Lloyd Wright’s Robie House. Watch the pick-up basketball games in McKinley Park (ps, basketball is religion here). Go to a garage sale in Englewood, South Shore, Jackson Park Highlands, Hyde Park, and Pill Hill. They have the best deals in the city. Hopefully the deals are still there after the Obama library is built.
