Report: Wal-Mart's billionaire Waltons give almost none of own cash to foundation

America's richest family contributes almost nil to the charitable foundation which bares their name, instead using the entity as a tax shelter.

Those are the findings of a report released Tuesday by Walmart 1 Percent, a project of union-based Making Change at Walmart.

Forbes reports the Walton Family Foundation, established in 1988 by the late Sam and Helen Walton – founders of Bentonville, Ark., based Wal-Mart Stores Inc. (NYSE: WMT) – is considered a heavyweight in the world of nonprofits with just under $2 billion in assets. However, none of the money is the result of family donations.

According to the full report:

• Rob and Alice Walton made zero individual contributions to the foundation during the 23 years examined;
• Jim Walton made a single personal contribution of $3 million to the foundation, more than 15 years ago;
• Rob, Jim and Alice Walton and the family holding company they control – Walton Enterprises – have been responsible for only 0.13 percent of all contributions to the Walton Family Foundation, a total of $6.4 million;
• The four Walmart heirs and Walton Enterprises combined have been responsible for only 1.2 percent of all contributions to the Walton Family Foundation.

The report found the combined lifetime contributions of the second generation Wal-Mart heirs and their family holding company to the Walton Family Foundation come to $58.49 million, or about 0.04 percent of the Waltons’ net worth of $139.9 billion.

In other terms, less than the estimated value of Rob Walton’s collection of vintage sports cars.

In comparison, Forbes reports America's other notable billionaires have contributed at least a quarter of their money toward their charities. Bill Gates has given 36.2 percent of his net worth and Warren Buffett 26.9 percent.

The Forbes report goes on to detail how the foundation has been funded over the years, namely by tax-avoiding trusts established with assets provided by the late Sam, Helen and John Walton or their estates. The study found 99 percent of the foundation’s contributions since 2008 have been channeled through 21 charitable lead annuity trusts. These CLATs, as they’re known, are specifically designed to help ultra-wealthy families avoid estate and gift taxes.

Read more from Forbes.