Statement by Former President of Grameen America regarding AP Story on "Donations" to Clinton Foundation
Yunus Centre Press release (August 23, 2016):
RESPONSE FROM VIDAR JORGENSEN
[Vidar Jorgensen, Co-Founder of and Founding President of Grameen America and also Co-founder Grameen Research, a businessman and a philanthropist responds to the recent Associated Press (AP) story titled "Many donors to Clinton Foundation met with her at State" on August 23, 2016. More information on him is available at Google.]
VIDAR JORGENSEN’S STATEMENT
The AP article says Grameen America gave between $100,000 and $250,000 to the foundation and Grameen Research donated between $25,000 and $50,000 . Here is the relevant quote:
“Grameen America, the bank's nonprofit U.S. flagship, which Yunus chairs, has given between $100,000 and $250,000 to the foundation — a figure that bank spokeswoman Becky Asch said reflects the institution's annual fees to attend CGI
meetings. Another Grameen arm chaired by Yunus, Grameen Research, has donated between $25,000 and $50,000.” (Later on AP corrected its story. For details http://goo.gl/08qC7n)
All payments made to the Clinton Foundation by Grameen America or Grameen Research were funds supplied by me personally for my personal admission to the Clinton Global Initiative Annual Meeting every September in New York. Admission paid was $15,000 in 2006 and 2007 and then $20,000 per person per annual meeting starting in 2008 through 2014. It was paid by me annually starting in 2006 and ending in 2014, a 9 year period after which I no longer needed to attend the CGI Annual Meeting since I stepped down from Grameen America. I also paid about $1,500 one time to attend one CGI America meeting in Chicago. That adds up to a total of $171,500 over a 9 year period which is in the range reported by the AP article. There were no other payments to the Clinton Foundation by Grameen America or Grameen Research during the period I was involved. Grameen America was focused on microfinance in the United States only and Grameen Research dealt with microfinance and health care in a number of different countries in addition to the US. The payments were made using my personal funds through either Grameen America or Grameen Research depending on the focus of my work that particular year.
Moreover, the amounts of the membership and meeting fees and the tax deductibility are public information and can be found on the Internet at https://www.clintonfoundation.org/clinton-global-initiative/membership/frequently-asked-questions and other public sources. These fees and fund allocations are roughly comparable to the attendance fees required for other meetings like World Economic Forum, TED and similar meetings that have memberships as a part of the meeting fee.
I found these meetings were very helpful in running my non-profits. If I had to do it over again, I would attend these meetings again as I did meet several significant partners and contributors at those meetings as I do at other meetings like
the World Economic Forum and TED. I personally have received no salary or other compensation or benefit from any Grameen organization other than what I have paid from my personal funds to attend the conferences above.
Professor Yunus was always a speaking guest of the CGI meetings and did not need to pay any admission fee and in no cases was any payment made by me or any Grameen organization for him to attend.
When I no longer needed to attend, no further payments were made by me after 2014, and Yunus has continued to attend as an invited guest speaker every year since the beginning.
The media are welcome to email me at vidar@grameenresearch.org if they need more information.
Source: Yunus Centre
Updated Date: 18th January, 2017