Donors gave $5.4 million to a foundation raising money for Barack Obama's presidential library, Politico reported.
The foundation's first-year tally was released in its tax forms, which were made public on Monday, Politico said.
Among the largest donors were Chicago publisher Fred Eychaner, who gave $1 million, followed by Chicago hedge fund operator Michael Sacks and his wife, Cari, who gave $666,666, Politico reported. The foundation reported top expenses that went for lease payments to Jones Lang Lasalle Midwest, and to a fundraising firm, Smoot Tewes Group. Both totaled $1,09,2074, Politico said.
The foundation announced last week
via video that Chicago's South Side would be the site
of his presidential library, noting the city's role in shaping his future. The library will be run in coordination with the University of Chicago and the University of Illinois.
"All the strands of my life came together, and I really became a man, when I moved to Chicago," Obama said in a video posted on the Web. "We’ll be able to now give something back and bring the world back home after this incredible journey."
His announcement last week ended years of speculation about where the president might want his legacy to be housed, Chicago's ABC 7 noted.
Two specific Chicago-area sites are under consideration — Washington Park and Jackson Park, ABC reported.
Noted Michelle Obama of the plan: "I'm thrilled to be able to put this resource in the heart of the neighborhood that means the world to me. Every value, every memory, every important relationship to me, exists in Chicago. I consider myself a South Sider."
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