Is Will And Jada Smith’s Charity Closing Due To Backlash From Oscars Slap And Mismanaged Funds?
The glitzy world of celebrity philanthropy took a downturn as the Will and Jada Smith Family Foundation, the brainchild of Hollywood power couple Will and Jada Pinkett Smith, may be closing following a significant drop in donations, according to Variety.
Tax filings revealed that the foundation’s income plummeted by a staggering 83% in 2022, marking a sharp decline from previous years.
The foundation, which was established in 1996 and supported causes ranging from health and wellness to arts education, experienced a severe blow to its funding after Will Smith’s highly publicized altercation with comedian Chris Rock at the 2022 Oscars. High-profile contributors, including American Airlines and CAA, withdrew their support, leading to the organization’s downfall.
Variety reported, according to records, the foundation’s revenue dwindled from $2,138,660 in 2021 to a mere $365,870 in 2022. This drastic decline forced the couple to wind down the foundation, redirecting their charitable efforts to private donations.
Despite the setback, the foundation continued its philanthropic endeavors in 2022, albeit on a smaller scale. Contributions were made to notable organizations such as the American Film Institute and Big Brothers Big Sisters. However, scrutiny arose over donations to lesser-known entities like Rebecoming and World Rebirth Foundation, raising questions about their legitimacy and impact.
Rebecoming, dedicated to exploring trauma release through non-ordinary states of consciousness, showed minimal online presence, with unanswered inquiries about its operations. Similarly, World Rebirth Foundation, focusing on issues like gun violence and mental health, lacked transparency and faced challenges in verification.
Additionally, the foundation faced criticism for extravagant expenses, including bank overdrawn fees totaling over $3,000. Despite these financial setbacks, the organization’s staffing decreased significantly, signaling a shift away from its core mission.
If the Will And Jada Smith Family Foundation does close, it will mark the end of an era in Black celebrity philanthropy. Will Smith, however, continues to command substantial paychecks in Hollywood, and appears to be rebounding from the Oscar scandal. His big-budget Bad Boys: Ride or Die with Martin Lawrence is set for release in June.
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