In my time I have reviewed many reports on the expenses of charitable foundations. There is no end to strange positions.
But this one caught my eye in the 2021 form for the Will and Jada Smith Family Foundation: “Journalist, $5,250.”
It’s a small amount hidden among the fund’s expenses for things like “Verification Services – $29,031.” Who were Will and Jada checking out in 2021, a year before the Oscars? Chris Rock?
Another expense: “Airfare: $92,706.” They definitely don’t use Expedia.
But journalist for $5250? (It’s cheap here, it’s better to get a six-pack!) The foundation paid the journalist for what exactly? Or did they just buy one and keep it? An email sent to the 2021 fund director did not receive a response.
But this is from the 2021 tax return. 2022 tax return. much more interesting. According to the documents, the Will and Jada Smith Foundation got serious about the matter in 2022 when Will stood up and punched Chris Rock live on stage at the Oscars.
I think the Smiths have become less charitable, worrying about their income in 2022 after Will slapped Chris Rock and yelled “F you” at him on live TV. In a nanosecond, Smith’s deals dried up and it looked like he might be “canceled.” He has since made a new film, Bad Boys, although it is unclear how it will be received.
The foundation’s 2022 tax return said qualifying distributions plummeted from $2 million to just $700,000. Grants to other charities fell from $888,000 to $336,000, or about 62%. Many groups that could have benefited from the Smiths’ generosity were excluded due to the slap on the wrist seen around the world.
Journalists were also not included in their 2022 expenses. And then they could use it!
