According to recent reports, Will and Jada Pinkett Smith’s charity is set to shut down amid plummeting donations following the controversial Oscars slap in 2022. According to sources familiar with the matter, the former couple were already in the process of closing the family charity before the infamous slap put the nail in the coffin.
Despite the foundation’s closure, it is reported that the duo will continue to donate to charitable causes, but privately, according to an anonymous source. The Will & Jada Smith Family Foundation was created in the late 90s and has donated to a variety of causes since its inception.
However, the foundation’s revenue experienced a steep decline after Will Smith hit Chris Rock with a slap seen around the world following a joke he made about Jada Pinkett Smith onstage at the Oscars. After the incident, Smith resigned from the Academy.
According to tax filings, the family charity saw its revenue shrink from over $2 million in 2021 to $365,870 in the most recent report from 2022, representing an 83 percent decline. Evidently, the on-screen slap caused high-profile contributors to cease their donations after it tarnished Smith’s image.
For example, prominent contributors such as American Airlines, which donated $76,160 in 2021, and CAA, which gave $100,000 in 2021, paused their philanthropic activity with the Will & Jada Smith Family Foundation.
“The Will & Jada Smith Family Foundation was founded in 1996 to make the world “better because we touched it.” Since then, WJSFF has invested millions of dollars and invaluable resources to accelerate the growth of initiatives that focus on deepening individual and collective empowerment,” the website states.
“They have carried this lesson with them throughout their lives, and they have instilled it in Trey, Jaden, and Willow as well as the entire Smith Family Circle, which includes Westbrook Studios, Overbrook Entertainment and a myriad of partners and supporters,” it added.
The foundation emphasized a variety of social initiatives geared toward “improving lives.” “We improve lives by creating opportunities for often unheard voices, inspiring communities to reach their full potential. We provide grants to organizations and individuals that reflect our ideals,” the foundation further states.
Watch the infamous Will Smith slap at the 2022 Oscars below:
Rock said, “You know who’s got the hardest job tonight. Javier Bardem and his wife are both nominated. Now if she loses, he can’t win!” Rock continued, segueing into the joe that earned him a slap across the face. he is praying that Will Smith. Please, Lord. Jada, love you. GI Jane 2, can’t wait to see it,” he added.
“Uh oh,” Rock said as Smith menacingly approached him on stage, before laying down a haymaker. “Wow Will Smith to smack the sh*t out of me,” The host said in disbelief of what just happened. Smith, who had returned to his seat, instructed Rock, “Keep my wife’s name out your f*****g mouth!”
“As outlined in our bylaws, the Academy’s Board of Governors will now make a determination on appropriate action for Mr. Smith,” an internal letter from the Academy read following the incident. “As governed by California law regarding members of nonprofit organizations like the Academy, and set forth in our Standards of Conduct, this must follow an official process that will take a few weeks.”
Note: The featured image is a screenshot from the embedded video.
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