Will Smith and Jada Pinkett’s charity is reportedly closing after the infamous Oscars slap

Will Smith’s infamous slap at the 2022 Academy Awards is still affecting his life. Variety broke the news Wednesday that the charity he opened with his wife, Jada Pinkett Smith, is allegedly closing.

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The Will And Jada Smith Family Foundation was founded in 1996 to make the world “better because we touched it,” according to the website. The nonprofit focused on arts and education, empowerment, health and wellness, and sustainability.

While the charity experienced decades of success, according to Variety’s reviewed tax filings, after Will slapped Chris Rock, high-profile contributors to the foundation stopped.

The outlet reviewed tax records (via ProPublica) showing the foundation’s revenue dropped from $1,760,000 in 2020 and $2,138,660 in 2021 to $365,870 in 2022 - an 83% drop, including the withdrawal of donors like American Airlines, which donated $76,160 in 2021, and CAA, which contributed $100,000 in 2021.

As noted by the outlet, the Instagram for the foundation hasn’t shared anything since December 19, 2022.

A source close to the foundation told the outlet the couple was already winding down the foundation before the incident and has been focusing on privately giving the same amount to charitable causes. They note that in 2022, the foundation gave $100,000 to the American Film Institute and $2,500 to Big Brothers Big Sisters. The foundation also donated money to Rebecoming and World Rebirth Foundation.

Their research also found expenditures such as office equipment and computers and $3,304 in “bank overdrawn” fees in 2022. An insider for the organization “cited a decline in staffing as evidence of the family moving away from the organization.” Variety notes that in 2021, they lowered the payment of their two staffers, and as of 2022, no paid staff worked at the organization.

But just because the foundation isn’t doing well, doesn’t mean the Smiths are worrying about money. Per a 2023 Variety report, Will is making his $25 million quote on both “Bad Boys 4” and Netflix’s “Fast and Loose.” The actor is however, still banned for from the prestigious awards ceremony. The Academy banned him for 10 years in April 2022.