Following his failed 2012 presidential campaign, Arizona Republican Sen. John McCain turned over nearly $9 million in unspent funds to a new foundation—the McCain Institute for International Leadership.
Associated with Arizona State University, the institute is a tax-exempt non-profit foundation holding assets valued at $8.1 million. “Dedicated to advancing human rights, dignity, democracy and freedom,” the institute is intended to serve as McCain’s “legacy.”
McCain is a high-ranking political force in Washington, D.C. and is presently chairman of the Senate Committee on Armed Services.
According to an exclusive report from The Daily Caller News Foundation’s Investigative Group, critics across the political spectrum view the institute as a major conflict of interest for McCain. With its list of questionable donors and McCain’s personal involvement in the organization’s exclusive “Sedona Forum,” some critics are concerned about the institute’s resemblance to the Clinton Global Initiative
The DNCF reported that “The institute has accepted contributions of as much as $100,000 from billionaire liberal activist-funder George Soros and from Teneo, a for-profit company co-founded by Doug Band, former President Bill Clinton’s ‘bag man.’ Teneo has long helped enrich Clinton through lucrative speaking and business deals.”