FACT CHECK #XNH40LSY

EXHIBIT A

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WHAT WE FOUND

The claim is misleading because it conflates a specific $1 million maintenance fund with the Obama Foundation's total financial holdings. As of June 2026, the Obama Foundation reports total net assets of approximately $1.1 billion [1.1.6, 1.3.2]. While the Foundation manages a general endowment and pledges totaling nearly $470 million intended for long-term operations [1.2.4, 1.2.6], critics have recently highlighted a separate maintenance reserve required by the City of Chicago [1.2.7]. This specific fund was seeded with $1 million in 2021 to meet the minimum legal requirement for the land use of Jackson Park [1.2.8]. Opponents point to this $1 million figure to argue the Foundation has not yet established a larger safety net once promised to protect taxpayers from future liabilities, even as the organization continues a $1.6 billion fundraising campaign [1.1.1, 1.1.4].

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