Disney Board Refuses To Release Charitable Donations List To Shareholders

(Photo by Charley Gallay/Getty Images for Disney)

Kay Smythe News and Commentary Writer
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The Walt Disney Company refused a proposal Wednesday that would have revealed all of the company’s charitable donations to their shareholders.

Disney asked shareholders in February to vote “no” on publicly releasing the company’s charitable and political donations, despite multiple calls from shareholders to do just the opposite. The proposal to release the financial information was brought about by the National Center for Public Policy Research’s (NCPPR) Free Enterprise Project (FEP).

FEP’s Disney shareholders wanted the media giant to disclose all charitable donations of $5,000 or more on its website “to better guide the Company’s philanthropic decision making in the future, while steering management away from expensive mistakes,” NCPPR said in a statement shared Wednesday. (RELATED: Cops Reportedly Left A Guy To Starve On Disney’s Abandoned Discovery Island)

FEP pointed out that Disney has donated millions to charities, groups and campaigns that are barely supported by the general public, let alone Disney’s shareholders. This has culminated in a significant lack of trust in Disney CEO Bob Iger.

“I’d say I was outraged that they refused to disclose where Disney’s ‘charitable donations’ go, but I am not. I already know how derelict this company has become, which gives me a good idea of where the ‘charitable’ funds go,” one shareholder who chose to remain anonymous told the Daily Caller.

“I think the main fact is that this was not an expression of the wishes of ultimate shareholders,” Shepard said exclusively to the Daily Caller. He believes that the giant investment houses that opposed Peltz have “seized the power of other people’s investments, their capital, and voted those shares, in this case, in favor of a man who very clearly is running Disney not in the interest of shareholders or of maintaining a famously loyal customer base. They’re running the place by Bob Iger’s personal policy preferences.” (RELATED: Disney To Create More Gay Content For Children)

“We’ve got these three investment houses and two proxy advisory services that can, like the trusts of the robber baron days, but worse, decide everything. They’re self-anointed masters of the universe having each other’s backs, supporting their mutually reinforcing power positions and elevating their personal policy preferences over fiduciary duty and company performance,” Shepard told the Caller. “Having one guy on the Disney board willing to stand athwart Iger shouting ‘Stop!’ was too much? So much for their claims about supporting ‘board diversity.'”

Disney did not immediately respond to the Daily Caller’s request for comment.