Will Smith’s career may have been able to withstand the fallout of the infamous slap around the world, but the same cannot be said for his charitable organization with Jada Pinkett Smith.
The Will and Jada Smith Family Foundation, established by the powerhouse couple in 1996, is ceasing operations in the wake of the controversial moment at the 2022 Oscars that saw Smith slap comedian Chris Rock on stage.
This incident sparked widespread discussion about the actor’s conduct and, as a result, has had a profound impact on the foundation’s ability to operate.
According to tax records reviewed by Variety, the charity experienced a dramatic decline in contributions following the Oscars incident.
From an impressive revenue of $1,760,000 in 2020, the foundation saw donations plummet by 83% in 2022.
Notably, several high-profile donors such as American Airlines and CAA, which previously provided significant financial support, withdrew their donations after the Oscars slap.
This withdrawal by major contributors led to a decrease in the foundation’s capacity to support its various charitable endeavors.
Among the initiatives impacted are contributions to esteemed organizations such as the American Film Institute and Big Brothers Big Sisters.
Despite these challenges, the foundation has also supported smaller entities like Rebecoming and World Rebirth Foundation, organizations focused on healing, community empowerment, and life skill development.
These contributions highlight the diverse range of interests and causes that the foundation aimed to support.
In light of the financial difficulties and decreased contributions, the Smith Family Foundation incurred operational challenges, including accumulating bank overdrawn fees.
Moreover, its online presence has remained static since 2020, signaling a reduced engagement in public philanthropic activity.
A source familiar with the foundation’s operations stated that the decision to conclude the foundation’s work predates the Oscars incident, indicating a shift in the couple’s philanthropic strategy towards more private avenues of contribution.