Obama Foundation in Chicago

From the announcement:

The Obama Presidential Center will be located in Chicago's South Side, where a young organizer once inspired his community to take action.

The Center will inspire citizens across the globe to better their communities, their countries, and their world.  It will exist not merely as testimony to one man’s legacy, but as a dynamic, vibrant forum for civic participation, education, action, debate, and progress.  It will not just tell a story, but ask people to write a chapter of their own.

The Presidential Center will include the library, museum, as well as office space and activity space for the Foundation.

- Multimedia exhibitions will interpret what Obama's presidency meant to America and the world, and activate a new generation of leaders.

- The Center will invigorate its neighborhood through new job creation, community engagement, and ongoing partnerships with local organizations.

- Online exhibitions and resources will recreate a virtual experience of visiting the Library and Museum for those who can’t make the trip.

The Obama Foundation and The National Archives and Records Administration (NARA) will work together in developing the Barack Obama Presidential Library and Museum as part of a larger Obama Presidential Center.  The Obama Foundation will be responsible for all aspects of the building, construction, design, and planning processes for the Obama Presidential Center.  When the construction is complete, the Foundation will transfer the Library and Museum to NARA, which will operate the Obama Library along with the 13 other Presidential Libraries.  These plans build upon the longstanding public-private partnership between NARA's Presidential Libraries and the private Presidential Foundations.

The Foundation intends to maintain a presence at Columbia University for the purpose of exploring and developing opportunities for a long-term association.  In addition, the Foundation will work with the state of Hawaii to establish a lasting presence in Honolulu.  Within Chicago, in addition to its association with the University of Chicago, the Foundation also plans to collaborate with the University of Illinois - Chicago.

The Obama Foundation will raise all of the funds needed for construction of the project; neither taxpayer funds nor university funds will be used in the construction of the Obama Presidential Center.  Once completed, the Foundation will provide NARA with an endowment equivalent to 60% of the total cost of all portions of the facility transferred to NARA.  The Foundation will be responsible for funding and operating the rest of the Center.

The Barack Obama Foundation has been recognized as a tax-exempt organization under Section 501(c)(3) by the Internal Revenue Service; donations are deductible as charitable contributions.

For the remainder of President Obama's term, the Foundation will follow strict donation guidelines in line with those adopted by the President for his campaigns.  The Foundation will not accept donations from entities or organizations other than those also operating under section 501(c)(3), and it will also not accept support from foreign nationals, currently registered federal lobbyists or foreign agents.

In addition, the Foundation discloses all donors and donations over $200 on a quarterly basis.  The disclosures are made public on their website.

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