His campaign branded the declaration as a sign of Hugin’s “higher ethical standards,” a comment clearly meant to contrast him with Menendez, who faced a corruption trial involving gifts from his friend and co-defendant, Florida eye doctor Salomon Melgen, but has since been cleared of all charges. Hugin’s campaign said Monday that, if elected, he would not accept the $175,000 Senate salary, would not accept any gifts and would put all his assets into a blind trust. In addition, Hugin earned $1.2 million as a member of the board of directors for The Medicines Company, a biopharmaceutical firm focused on developing “transformational solutions.” He also made $129,313 as a board member for Danaher Corp., a medical products company, and collected another $160,338 in deferred compensation from JPMorgan Chase. Some of those earning appear to be related to Hugin’s departure from the company. The separate Senate financial disclosure form, which was released to reporters, shows $46.9 million in income from Celegene. The couple listed domestic staff for one of the years, paying about $81,000 in salary. Their foreign income was about $85,000 across both years. The couple also earned several million dollars from capital gains, taking in $707,135 in 2015 and about $3.2 million in 2016. Some of their income - $225,000 in 2015 and $431,579 in 2016 - came from Hugin’s private consulting work. He and his wife had received extension in both of the previous years. Hugin did not release a tax return for 2017. The foundation also gave $204,605 to the United Methodist Church of Summit $261,525 to the Overlook Hospital foundation in Summit $218,428 to Family Promise in Summit, a charity that runs a number of programs for homeless families $100,980 to Damon Runyon Cancer Research Foundation and $101,002 to Project Rebirth, a group that makes uplifting documentary films. Four colleges or related funds received donations from the foundation: Princeton University, which Hugin attended, received about $1.3 million the foundation of the University of Virginia Darden School, where Hugin earned his graduate degree, received about $1.1 million Lehigh University, which one of his sons attended, received $498,937 and the Yale University McKellip Scholarship Fund received $50,522. The foundation also gave $156,984 to the High Mountain Institute, a “gap year” program in Colorado that one of their son’s attended. It also contributed a small amount - $5,261 - to the Kent Place School in Summit, where their daughter had attended. Over those two years, the organization gave more than $1 million to Pingry School, an exclusive college prep school in New Jersey that two of Hugin’s children attended. IRS tax returns for the foundation show it gave more than $1.4 million in 2015 and about $3.6 million in 2016. The foundation has no employees or expenses, she said. Their combined effective tax rate was about 40.4 percent, with a 31.5 percent federal rate.ĭetails for their charitable contributions were not included with the 2016 filing, but an attachment to the 2015 return showed the bulk of the money that year went to the “Hugin Family Foundation.”Ī spokeswoman for the Hugin campaign said the couple’s charitable contributions in 2016 also went to the foundation, which was created to “support education and charitable activities across many areas including homelessness, veterans and community support. In 2016, the Hugins earned $14.3 million, paid $4.8 million in taxes and contributed $3.9 million to charity. They had a combined effective tax rate of about 46.5 percent, paying about 37.6 percent of their income to the federal government. The couple, which live in Summit, made $19.5 million in gross adjusted income in 2015, paying $7.6 million in state, local and federal taxes and contributing more than $5 million to charity.
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