Will and Jada Pinkett Smith's Charity to Shut Down Amid Donation Decline

The charitable foundation faces closure following a significant drop in donations after the 2022 Oscars incident, despite plans to wind down operations prior to the event.

The Will And Jada Smith Family Foundation is shutting down due to a significant decrease in donations, attributed in part to the fallout from Will Smith's Oscars slap incident.
Tax filings reveal a dramatic drop in revenue from over $2 million in 2021 to less than $400K in 2022, with major donors like CAA and American Airlines withdrawing their support.
Despite the decline in donations, the Smiths were already planning to close the foundation to focus on private charitable contributions.
Financial mismanagement issues, including bank overdraft fees and donations to seemingly defunct organizations, have also plagued the foundation.
Will Smith's career remains unaffected by the controversy, with several high-profile projects in pre-production, including the sequel to 'I Am Legend' and the fourth 'Bad Boys' film.