Clinton Foundation Refiles 6 Years Of Tax Returns, Shows Record Cash Reserves

The Bill, Hillary and Chelsea Clinton Foundation and a spinoff charity refiled six years of tax returns Monday with the Internal Revenue Service to amend errors that emerged as the namesake groups came under heightened scrutiny once Hillary Clinton’s presidential campaign took off, Reuters reported.

The Clinton Foundation’s tax filings were released Monday night, also showing a fundraising haul of $178 million in 2014. The foundation wrapped up the year with cash reserves of $354 million, the largest in its 17-year history. Nearly half of those reserves appear to be held in an endowment in preparation for the couple’s absence during Hillary Clinton’s campaign and possible presidency, according to Politico.

Clinton Foundation CEO Donna Shalala said the tax refiling was voluntary, prompted by press reports that brought to light errors in the way the charity had reported government grants. The foundation refiled its Form 990 tax returns from 2010, 2011, 2012 and 2013.

The Clinton Health Access Initiative, which works to "save the lives of millions of people living with HIV/AIDS," refiled its returns for 2012 and 2013. The organization conducted a review involving lawyers and accountants, who found additional errors to the ones identified by the press.

Some of the main amendments to the tax filings include that the Clinton Foundation now reports drawing in nearly $20 million in funds from mostly foreign governments between 2010 and 2013.

"Although the exhaustive review found several additional errors, our external tax reviewers informed us that the errors did not require us to amend our returns; There is no change in our bottom line numbers: assets, liabilities, and net assets; and we do not owe any taxes," Shalala wrote in a statement posted on the Clinton Foundation's website.

"Our reviewers advised us the Foundation has no legal obligation to file amended returns, but that if we did file an amended return it would be important for us to correct errors found in the review," she added.

The Clinton Foundation has been harshly criticized, particularly from political rivals, for creating conflicts of interest for a potential U.S. president by relying on millions of dollars from foreign governments. Republican National Committee chairman Reince Priebus said in a statement that the foundation has demonstrated contempt for transparency.

“Hillary Clinton has no intention of voluntarily complying with ethics guidelines or federal tax laws,” he said.