Will and Jada Smith's charity tanks after Oscars slap debacle taking in just $365,000 in 2022 - compared to more than $2MILLION the year before

Will and Jada Smith's family charity appears to be closing its doors after taking in a fraction of its previous donation numbers in 2022, following the infamous slap Smith landed on comedian Chris Rock at the 94th Academy Awards.

The A-Listers' Will And Jada Smith Family Foundation was first established in 1996 as a way for the Hollywood stars to publicly advocate for causes close to their hearts, including arts education, and health and wellness efforts.

According to tax records for the foundation, the foundation saw $1,760,000 in 2020, and $2,138,660 in 2021.

The revenue figure dropped a radical 83 percent between 2021 and 2022, when the charity took in just $365,870.

In the aftermath of the infamous Oscar slap in 2022, Will and Jada Smith's charity appears to be on its way to shuttering

Some of the charity's largest corporate supporters, including CAA and American Airlines - both of which donated more than $75,000 in 2021 - stopped contributing to the charity in 2022.

Variety reported that a source close to the controversial couple said Will and Jada are winding down the foundation and will instead privately donate a similar amount to charitable causes they support.

In 2022, the foundation directed funds to several large organizations, including $100,000 to the American Film Institute, and $2,500 to Big Brothers Big Sisters.

The outlet also reported that the charity sent five-digit donations to virtually unheard of and possibly defunct organizations in 2022. 

Rebecoming, an entity 'dedicated to understanding and unlocking the healing potential of non-ordinary states of consciousness through clinical research into the mechanism-of-action behind trauma release,' received $15,000 from the Will And Jada Smith Family Foundation in 2022.

According to Variety, the organization's website hasn't been updated since 2020. 

Other spending recorded by the charity included expected expenditures including office supplies and technology.

One surprising line item was $3,304 in 'bank overdrawn' fees.

The source close to the organization said the family was winding down the organization as evidenced by a reduction in staffers - in 2022, there were no paid staffers at the foundation. 

It's been two years since the infamous Oscar slap, which occurred after comedian Chris Rock made a lighthearted joke about Jada Pinkett Smith's appearance, prompting Will to make his way to the stage, slap the presenter and say 'keep my wife's name out of your f**king mouth'

Jada Pinkett Smith, 52, released a memoir last year that documented parts of her tumultuous relationship with her longtime husband

Smith, 55, despite being the at the center of an unforgiving news cycle, remains at the top of the Hollywood list of actors with immense star power - he will earn $25million per project for his next two roles

It's been two years since the infamous Oscar slap, which occurred after comedian Chris Rock made a lighthearted joke about Jada Pinkett Smith's appearance, prompting Will to make his way to the stage, slap the presenter and say 'keep my wife's name out of your f**king mouth.'

Despite an unforgiving news cycle and heavy criticism for his behavior, Will Smith remains an uncontested A-Lister, who will bring in $25million per project on the upcoming 'Bad Boys 4,' and Netflix's 'Fast and Loose.'

Jada Pinkett Smith recently released a memoir, which revealed a seven-year separation from her husband.

The couple appear to be successfully pursuing individual entertainment projects at a pre-slap pace, with the exception of their foundation.

The foundation's Instagram has been quiet since late 2022, and its Facebook page's last update was in 2023 - though its official website has a 2024 copyright notice.

According to the site, the all-star couple's foundation 'has invested millions of dollars and invaluable resources to accelerate the growth of initiatives that focus on deepening individual and collective empowerment.'