Well, would you look at this!
As construction nears completion on the $850 million Obama Presidential Center in Chicago, newly uncovered federal tax filings are raising eyebrows. Records show the Obama Foundation paid CEO Valerie Jarrett roughly $740,000 in compensation in 2024, while several other former Obama administration officials collected 6 figure salaries working at the nonprofit.
The revelations come as the massive presidential center project prepares to open its doors — and as critics question how taxpayer-owned land in Chicago is being used for the privately run foundation.
Obama Foundation Salaries Skyrocket
According to tax filings reviewed by investigators, the Obama Foundation’s spending on salaries and benefits has surged dramatically over the past several years.
In 2018, the foundation spent roughly $18.5 million on payroll. By 2024, that number had climbed to $43.7 million as staffing expanded to 337 employees.
During the same period, the nonprofit reported nearly $210 million in annual revenue, most of it coming from donations and grants.
The Obama Foundation is responsible for operating the 19.3-acre Obama Presidential Center campus, which is being built on publicly owned Chicago parkland in historic Jackson Park.
Valerie Jarrett Among Highest-Paid Presidential Foundation Leaders
Valerie Jarrett — one of Barack Obama’s closest advisers during his presidency — became CEO of the Obama Foundation in 2021.
Her $740,000 compensation package places her among the highest-paid executives connected to presidential foundations in the United States.
For comparison:
- The George W. Bush Presidential Center reported CEO pay of about $661,000.
- The Carter Center and Reagan Foundation reported executive compensation around $500,000.
- The Clinton Foundation’s CEO compensation was reported at under $500,000.
According to the foundation’s filings, Jarrett’s salary accounted for less than 1% of the organization’s total expenses in 2024.
Multiple Former Obama Officials Collect Six-Figure Salaries
The tax records also reveal that many of the Obama Foundation’s highest-paid executives previously worked in the Obama White House or on his political campaigns.
Among them:
- David Simas, who previously served as President Obama’s White House political director, reportedly earned as much as $626,000 per year during his time running the Obama Foundation from 2017 through 2020.
- Adewale Adeyemo, later Biden’s deputy Treasury secretary, earned about $540,000 as the foundation’s first president.
- Anne Filipic, a former Obama White House official, earned roughly $400,000 annually.
- Christina Tchen, former chief of staff to Michelle Obama, also earned around $400,000 per year.
- Michael Strautmanis, another longtime Obama aide, earned over $300,000 annually.
The concentration of former administration insiders earning large salaries has sparked criticism from political opponents.
Illinois Republican Party Chairman Kathy Salvi blasted the pay levels, arguing they highlight what critics describe as Illinois’ long-standing political culture of insider influence.
The Obama Presidential Center: A Different Kind of Presidential Library
Unlike traditional presidential libraries, the Obama Presidential Center will not be operated by the National Archives and Records Administration.
Instead, the Obama Foundation will privately operate the entire campus under a 99-year agreement with the city of Chicago.
The new complex will include:
- A presidential museum
- A public library branch
- An athletic facility
- Community and leadership program spaces
Supporters of the project say the center will create 150 full-time jobs and bring new economic activity to Chicago’s South Side.
Nonprofit Watchdogs Raise Transparency Questions
Nonprofit experts say organizations tied closely to political figures often face greater scrutiny from the public, particularly when former government officials hold high-paying leadership roles.
Laurie Styron, CEO of the nonprofit watchdog group CharityWatch, said transparency is essential when politically connected organizations pay large executive salaries.
“When a nonprofit is connected to a former administration, the public naturally wants to know how leadership and compensation decisions were made,” Styron explained.
She added that high salaries are not automatically inappropriate, but they should always be evaluated based on comparable organizations and responsibilities.
Obama Foundation Defends Executive Compensation
The Obama Foundation responded to criticism by stating that executive salaries are based on competitive national market rates for large nonprofit organizations.
According to the foundation, compensation decisions are reviewed each year using independent consultants and national nonprofit salary benchmarks.
Officials also pointed out that leaders of some large philanthropic institutions earn significantly higher salaries.
For example, CEOs at the Rockefeller, Mellon, Ford, and MacArthur foundations have reported compensation ranging from $1.29 million to more than $1.4 million annually, according to public filings.
Billion-Dollar Assets — But Limited Endowment Funding
Financial disclosures show the Obama Foundation reported more than $1.1 billion in total assets by the end of 2024.
However, much of that figure reflects construction costs and restricted funds tied to the presidential center, rather than long-term investments.
The foundation previously pledged to build a $470 million endowment, though public filings indicate only about $1 million has been deposited so far.
Revenue for the organization has fluctuated in recent years:
- 2024: $210 million
- 2023: $311 million
- 2022: $309 million
Much of that fundraising surge occurred during the peak construction phase of the Obama Presidential Center.
Obama Promotes Center as “A Living Destination”
In a promotional video released ahead of the center’s expected June opening, former President Barack Obama described the project as a forward-looking institution rather than a traditional monument.
“This is not a monument to the past,” Obama said. “It’s a living destination for people who want to challenge the status quo and build something better.”
As the opening approaches, the massive project continues to draw attention — not just for its historic ambitions, but also for the financial details now coming to light about how the foundation operates behind the scenes.