A MUST READ: A Financial Review of Jeffrey Epstein’s Ties to the Suspicious Wexner Foundation

Jeffrey Epstein is connected with the Clintons and former Israeli Prime Minister Ehud Barak as well as numerous other politicians and celebrities.  The Foundation that he is connected to has just as many questionable characters.

We reported over the weekend that Jeffrey Epstein has connections to an entity by the name of the Wexner Foundation (EIN #:27-7320631).

An Internet sleuth provided us some questionable ties related to Epstein and Barak Ehud. For the past 15 years there are numerous entities operating in both Ohio and NY related to the Wexner Foundation. The ties to Epstein seem to be limited to the early years and fairly straight forward.

For tax years 2001 through 2006, the tax returns for the Foundation list Jeffrey Epstein as a Trustee and the person with whom the corporate books are in the possession of (at the same address of the Foundation in Ohio). Additionally, for 2001 the Wexner Foundation only received one contribution of $9,588,560 and that contribution came from an entity named ARTS INTEREST TRUST with an address of C/O Jeffrey Epstein in St. Thomas, Virgin Islands.

 

In all other years of 2002-2015, the vast majority (if not all) of the Wexner Foundation revenue came from contributions from an entity named THE LESLIE H. WEXNER CHARITABLE FUND (EIN#: 31-1318013). For years of 2001-2005, Epstein was listed as a Trustee of this organization as well. In 2006, this entity changed it’s name to THE WEXNER FAMILY CHARITABLE FUND.

Another interesting discovery is that the Wexner Foundation paid “consulting fees” to Ehud Barak of $1 million in 2004 and $800,000 in 2006. In 2005, The Leslie H Wexner Charitable Fund paid Ehud Barak $505,000 in “consulting fees”.

Per further analysis of the tax returns of the Wexner Foundation:

  1. The salaries paid by this entity seem very high given the revenues, expenses and activity of the entity.
  2. Most of the “grants” paid to other organizations have been to educational institutions, with a very substantial portion (roughly 50%) paid to Harvard.
  3. Travel expenses seem extremely high for this organization (some years travel expenses exceed their grants given).
  4. Some other expenses in multiple years seem odd (examples: “Parsonage” and “Honoria”)
  5. Rent expense seems very high in multiple years.

One other thing of interest is that while the annual filings of the Wexner Foundation with the NY Charity Bureau are listed for all years 1999-2017, the links for years prior to 2006 are no longer clickable and therefore the documents cannot be downloaded from that site. However, the 990 returns are viewable and downloadable from ProPublica for 2001-2015.


Today we have more information on the Wexner Foundation –

Highlights 2001-2017 (all years tax returns available):  

Total Contribution Revenue of Wexner Foundation = $175 Million

Wexner Family Charitable Fund = $131,000,000 (74.8%)

Arts Interest Trust (C/O Epstein ) = $9,588,560 (5.5%) – 2nd largest

Some additional items of note:

  1. In addition to paying Ehud Barak large sums, they paid some rather large amounts to Rabbi’s for Rabbi Advisory Services beginning in 2006.  In recent years they were also paying some consultants some large fees for “program reviews”.
  2. Salaries to Officers and Trustees are extremely high especially in recent years.
  3. One Trustee Dennis S. Hersch received $250,000 a year for 5 hours of work per week from 2009-2017.
  4. Expenses for Travel, Conferences and Seminars are extremely high each year and ever increasing.  It appears they were conducting seminars at various locations throughout the country but we really don’t know what they were doing.
  5. In every year they paid someone (not known who – Epstein?, Barak? Rabbi?) amounts ranging from $110,000 to $300,000 (rounded) for Honoraria.
  6. In every year beginning with 2006, they paid  Parsonage , (i.e. home expenses for someone not known who – Epstein?, Barak? Rabbi?) amounts ranging from $125,000 to $230,000.
  7. Beginning in 2006 the amounts of grants made by Wexner Foundation dropped dramatically.  This coincides with the merger of another Wexner “charity” named Wexner Heritage Foundation (EIN#31-1142481) into the Wexner Foundation.  Prior to 2005 the largest grants each year of the Wexner Foundation went to this Wexner Heritage Foundation.  Merger documents are included in the 2005 tax return).  After 2005, grants made ranged between $1.87 million to $3.65 million.
  8. In numerous years beginning in 2006, the total expenses for Salaries & benefits + Other Professional Fees + Travel/Conferences/Meeting + Honoraria + Parsonage well exceeds the total amounts of grants given.  Example in 2016 Sal/Ben + Other Prof fees + Travel/Conf./Meetings + Parsonage + Honoraria = $4.87 million while Grants made = $3.6 million.
  9. In 2012 & 2013 they have expenses for “program reviews” totaling $606,932.  It is unknown who these fees were paid to as they are not listed in the large contractor amounts disclosure on the tax return as required.
  10. Rent expenses seem to be very high for an entity of this size.  It does seem like at some point they opened an office in addition to their main office in New Albany, Ohio but don’t know where.
  11. Repairs and maintenance seem extremely high, averaging $57,704 per year for 2001-2016 and approximately $93,000 per year for years 2015-2016.  Why would a private foundation have repairs and maintenance expenses that are so high?

It’s clear that the Wexner Foundation, whatever it is, is not a legitimately run enterprise and who even knows what Epstein did for a living.  Even the far left Daily Beast reported on Epstein –

That businessman was Jeffrey Epstein. In the early 1990s, British newspapers that followed British socialite Ghislaine Maxwell (alleged to be Epstein’s chief procurer of victims) tried to figure out who Epstein was. The Mail on Sunday asked in 1992: “But what is he—property developer, concert pianist, math teacher, corporate treasure hunter, stockbroker, merchant banker or globe-trotting businessman?” No one seemed to know.

Epstein’s ties to famous political and entertainment elites are staggering.  The Foundation he is connected to is likely a scam similar to the Clinton Foundation.  Who really is this guy and what is the Wexner Foundation?

Hat tip Kevin and Charles

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