Endowment for Obama Presidential Center in Trouble as Contractors Face Financial Woes

The Obama Presidential Center is far behind its goal of establishing a $470 million endowment as a safety net, and has just $1 million in funding.

Contractors and subcontractors involved in building the center have reportedly been locked in payment disputes with the Obama Foundation, and many are facing financial ruin as a result.

The foundation was supposed to have millions more in the bank, but a recent report by Fox News said that just $1 million has been raised, and that that figure has remained nearly constant throughout the project.

The project has been plagued by cost overruns and a lack of financial transparency from the start, and a recent report on the center’s financial status has not been made public.