President Obama and his wife, Michelle, last year donated 6 percent of their income of $5.5-million to charity, according to figures released today by the White House.
Vice President Biden and his wife, Jill, donated 1.5 percent of their income of $333,182 to charity, in both cash and donated goods.
The Obamas reported giving a total of $329,100 to 40 charitable organizations. Their largest gifts were $50,000 contributions to CARE and to the United Negro College Fund.
As the White House had announced in March, Mr. Obama donated his $1.4-million Nobel Peace Prize award to 10 charities.
In its statement today, the White House said the federal tax code provides “that if the recipient of the Nobel Prize directs the Nobel Committee to donate the prize money directly to charity, as the president did, the recipient does not have to recognize the prize as income on his federal income tax return.”
The White House added that “the president is not permitted to take a charitable deduction on the value of the prize since it is not included in his income.”
0 Responses to Obamas Donated 6% of Income to Charity
joe5991 - April 16, 2010 at 4:59 pm
Are you kidding me? The Obamas are living rent free for the next four to eight years and the best they can do is a lousy $329,000 on an income of $5MM? Barack and Michelle should be ashamed of themselves. I think a million would be the very least they should have invested in our communities.
agehamil - April 19, 2010 at 2:14 pm
I wonder how he compares to past presidents.