Will Smith and Jada Pinkett-Smith are known not only for their acting prowess and marriage drama, but also for their philanthropic efforts through the Will And Jada Smith Family Foundation. However, recent events have led to the unexpected decision to shut down the foundation for good.
It all started with the infamous slap Will Smith gave to Chris Rock at the 2022 Oscars. The incident caused a serious dent in Will’s image, leading to a decline in high-profile contributors who had previously supported the foundation. Tax records reveal a significant drop in the foundation’s revenue, from $2,138,660 in 2021 to just $365,870 in 2022, representing an 83% year-over-year decrease.
Contributors such as American Airlines and CAA, who had donated crazy amounts in the past, also distanced themselves from the foundation. The departure of these influential donors further contributed to the decline in revenue.
Sources close to the foundation confirmed that Will and Jada had already decided to wind down the organization before the Oscars incident. They now intend to focus on charitable causes privately, ensuring the same level of financial support while avoiding public scrutiny.
Despite the decline in revenue, the Will And Jada Smith Family Foundation made notable contributions to various organizations in 2022. They donated $100,000 to the American Film Institute and $2,500 to Big Brothers Big Sisters. Additionally, smaller organizations such as Rebecoming and World Rebirth Foundation received financial support.
Rebecoming, an organization dedicated to understanding non-ordinary states of consciousness for trauma release, and World Rebirth Foundation, focused on helping those in need with life and job skills, were among the recipients. However, reaching out to these organizations proved challenging, as their websites and contact details were outdated or unresponsive.
The foundation’s financial struggles also included significant expenses, like office equipment and computers. Notably, they incurred a staggering $3,304 in bank overdraft fees.
Despite the closure of their foundation, Will Smith continues to command significant paydays in Hollywood. It is reported that he is set to earn $25 million for both the upcoming sequel “Bad Boys 4” and Netflix’s “Fast and Loose.”
The decision to shut down the Will And Jada Smith Family Foundation was undoubtedly a difficult one. However, it demonstrates the challenges faced by even the most prominent celebrities when their philanthropic efforts are overshadowed by controversy.
As Will and Jada transition to more private philanthropy, only time will tell how their charitable endeavors will continue to make a difference in the world.
As far as their marriage drama goes…well, it seems to be an up-and-down scenario for them thus far. Though, Jada did recently hint that they may be headed toward a reconciliation, after she revealed they’d been living separate lives, in separate homes and whatnot. On the flip side, Will has remained silent on their current situation. At any rate, wishing them the best with their foundation endeavors going forward.
