Obama Presidential Center deposits just $1M into $470M reserve fund aimed to protect taxpayers

When the Obama Foundation snagged a sweetheart deal to build its beleaguered Obama Presidential Center on a Chicago public park, it pledged to create a $470 million reserve fund to spare taxpayers should the project ever go belly up. But new tax filings show the foundation has only deposited $1 million into the fund and has not added to it in years, with critics saying the empty promise could potentially leave Chicagoans on the hook for hundreds of millions of dollars. Under its agreement with the city, the foundation was required to create the fund, known as an endowment, in...