The world-famous bureaucrats who fly jets are Luxury 5 star country club You can travel for pennies outside of Washington — all part of a luxury perk that's effectively subsidized by the U.S. government, The Post has learned.
International Monetary Fund and World Bank employees, who earn six-figure tax-free salaries at both world organizations, are entitled to free memberships at the Bretton Woods Recreation Center in Maryland, according to documents obtained by the newspaper. can.
High enrollment fees for IMF-owned courses (ranging from $12,000 to $20,000) are automatically waived for all employees on both institutions' payrolls, according to undisclosed documents. It is said that
Even elite IMF directors can earn $420,000 a year tax-free, and bank executives can earn up to $500,000 a year without giving a penny to Uncle Sam.
The optics are finicky at best. The IMF lectures governments around the world on how to run their economies, demanding tough austerity measures from debt-ridden countries like Greece. In July 2021, experts told Joe Biden to scrap all of Donald Trump's first phase tariffs and end the “Buy American” policy.
Meanwhile, the World Bank has a mission to fight poverty and global warming. In October, a report accused British left-wing charity Oxfam of having “lost track” of $24 billion in climate funding, a charge strongly refuted by officials.
The United States is the largest donor to both organizations. The country contributes $117 billion in IMF funding, nearly 18% of its current five-year budget, according to a 2022 report by the Congressional Research Service.
Another study conducted by CRS in May this year showed that the United States also freely provided 16% of the World Bank's total capital of $318 billion, of which $3.5 billion was earmarked for administrative costs. are.
“The relationship between the IMF and Bretton Woods Recreation Center is that of a landlord and tenant,” an IMF spokesperson said, confirming that the IMF owns the exclusive club.
The spokesperson also claimed that the luxury resort is “operationally and financially independent from the IMF.” However, the most recent tax returns available are from 2022 onwards A Post review revealed that two of the foundation's top executives, Robert York and Olivier Fleurens, parachuted in to take seats on the board.
A World Bank spokesperson added: “Staff membership (in the club) is voluntary and there are no World Bank grants.”
The 285-acre Bretton Woods resort, valued at an estimated $20 million, features an 18-hole golf course, two swimming pools, and a dining room and banquet hall. Lucky members can also sign up for tennis lessons with coach David Johnson, who is paid $166,000 a year for just 45 hours a week. According to the tax return.
The club's website states, “Bretton Woods Recreation Center combines excellent sports and recreational facilities with gorgeous natural scenery along the banks of the Potomac River, making it a favorite destination for members and guests since 1968. ” is written.
Club management said at least 80 percent of its 1,300 members are IMF or World Bank employees, according to emails reviewed by the Post.
They boast that they will prevent too many members of the public from attending in order to “preserve the integrity” of this upscale venue as an upscale networking club 35 miles from downtown Washington, D.C.
Niall Gardiner of the conservative Heritage Foundation think tank accused IMF and World Bank officials of “living lavishly” at the expense of American taxpayers.
“For too long, the globalist elite has made Americans freeloaders,” a former aide to the late British Prime Minister Margaret Thatcher told the Post. “These lavish perks for unelected officials will no doubt come under close scrutiny by the new US administration.”
The revelations come as President-elect Trump plans to take a knife to wasteful spending under a new Department of Government Efficiency headed by Tesla giant Elon Musk and Republican firebrand Vivek Ramaswamy. It was done.
The newspaper exclusively said on November 15 that World Bank officials are “running around like headless chickens” amid fears they will be asked to rein in their extravagant spending habits after Trump's victory. Reported.
Joe GroganTrump, who served at the Office of Management and Budget during President Trump's first term, told the Post that the global agency is “100%” in the administration's sights on potential cuts.
“These international organizations are going to have to buckle down going forward. They're going to be on the target list,” said Roberts, who oversaw $1.3 trillion in domestic health spending during his two-year term as Spending Oversight Commissioner. Grogan said. “Why on earth would the IMF own a golf course? That's insane.”
Officially established as a non-profit organization “Social Welfare Organizations” with the IRSThe club receives just over half of its income from IMF and World Bank staff, according to filings.
The company collected nearly $4 million in membership fees from employees drawn primarily from two international organizations, according to tax filings.
IMF employees who earned less than $162,699 paid monthly dues between $142 and $312, while those who earned more than that amount were required to withdraw $355 a month.
According to club documents, membership fees for World Bank employees are also waived, but they must hand in between $213 and $532 a month for the fun of playing there.
In contrast, regular Joes must pay both a five-figure joining fee and dues ranging from $235 to $585.
Stressed IMF and World Bank staff are also given the opportunity to relax with regular yoga sessions held by the club “with views of the beautiful Bretton Woods landscape”.
An online post advertising the class reads, “Relax after a long day, stretch, strengthen, and balance your body, and enjoy complimentary wine, charcuterie, and other delicious treats while watching the sunset. ” is written.
The generous benefits will be seen as controversial as ordinary Americans grapple with a cost-of-living crisis during the fourth year of the Biden-Harris administration.
“If you're making a huge salary that's tax-free, why don't you just pay the joining fee like everyone else?'' said one staffer who plays elsewhere.
