Charity run by Will and Jada Smith shutting down after Oscars controversy and mishandled finances?

The glamorous world of celebrity philanthropy has hit a rough patch as the Will and Jada Smith Family Foundation, founded by the famous power couple Will and Jada Pinkett Smith, may be coming to an end. According to Variety, the foundation has suffered a significant decrease in donations, causing concerns about its future.

Recent tax filings have revealed a staggering 83% drop in the foundation's income in 2022, a sharp decline from previous years. This alarming decrease is believed to be a result of Will Smith's highly publicized altercation with comedian Chris Rock at the 2022 Oscars. As a result, major contributors such as American Airlines and CAA have pulled their support, leading to the downfall of the organization.

In 1996, the Will and Jada Smith Family Foundation was established with a focus on supporting various causes, including health and wellness and arts education. However, the recent controversy surrounding Will Smith has caused a severe blow to the foundation's funding. As a result, the couple has made the difficult decision to close the foundation and shift their charitable efforts towards private donations.

Despite the setback, the foundation has continued its philanthropic work on a smaller scale in 2022. They have made contributions to reputable organizations such as the American Film Institute and Big Brothers Big Sisters. However, questions have been raised about some of the foundation's donations to lesser-known entities such as Rebecoming and World Rebirth Foundation. These organizations have faced scrutiny for their lack of online presence and transparency, raising doubts about their legitimacy and impact.

Rebecoming, which focuses on exploring trauma release through non-ordinary states of consciousness, has shown minimal online activity and has left unanswered inquiries about its operations. Similarly, World Rebirth Foundation, dedicated to addressing issues like gun violence and mental health, has faced challenges in verification and lacks transparency.

In addition to these concerns, the foundation has also faced criticism for its extravagant expenses, including over $3,000 in bank overdraft fees. Despite these financial setbacks, the organization has also experienced a significant decrease in staffing, indicating a shift away from their core mission.

If the Will and Jada Smith Family Foundation does indeed close its doors, it will mark the end of an era in Black celebrity philanthropy. However, Will Smith, who continues to command substantial paychecks in Hollywood, seems to be bouncing back from the Oscar scandal. His highly anticipated film, Bad Boys: Ride or Die with Martin Lawrence, is set for release in June.

This news also sheds light on the pay disparity faced by Jada Pinkett as a result of being married to Will Smith. Despite the challenges faced by their foundation, the couple remains determined to make a positive impact in their community through their philanthropic efforts.

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