By RICHARD C. SMITH, Associated PressThe Caron foundation has a problem.
The foundation has only raised $1.8 million in the past three years, making it one of the poorest foundations in the world, and one of only a few that have not raised the required $1 million to be considered a 501(c)(3) charity.
Caron’s chief executive officer, Caron DeCaron, said he was concerned by the foundation’s poor performance.
It had been established by Caron’s father in 1986 to help women achieve financial independence.
In a statement to The Associated Press, Carman said the foundation would raise money for a program that provides women with more access to education and job opportunities.
“We have a long way to go, and we have a lot of work to do to make the foundation a truly inclusive, transformative force for change for women,” DeCarons statement said.
The statement was sent to the AP on Monday.
The Carons foundation has struggled to raise money since 2009, when it was set up to provide financial assistance for women seeking to start their own businesses.
The Carons are the only foundation in the United States that doesn’t provide financial aid to women.
In the years since, the foundation has had to raise more than $400 million to remain eligible for tax-exempt status as a nonprofit.
Its annual operating budget is about $500 million.
In an interview with The Associated State, Carona said the Foundation had never met its fundraising goals.
She said she felt bad that the foundation was losing money because it had been able to provide services to women that had not been available to other women.
The foundation’s board of directors approved the 2015 budget at a meeting in which the board members were encouraged to continue to focus on philanthropy, according to an AP review of its annual financial report.
But after the board voted on the 2015 budgets, DeCarona said, the Carons leadership decided to focus less on philanthropic work.
The board approved the $400,000 grant to Caron to start a women-specific business in April.
The money was to be given to Carons employees and their families.
It is unclear how much money the Caron family has raised since.
The money was not immediately available.
The Foundation of Caron was founded in 1986 by Carona and her mother, Giorgio, and their father, Gianni.
The family started a jewelry store and business in 1986, and the family has owned the Caronica jewelry shop since 1991.
The first Caron stores opened in 1986 in Geneva, Switzerland, and were later expanded to other countries.
The company now operates more than 1,600 stores across the world.
Caron has been criticized by critics for its record of financial mismanagement and its inability to keep up with inflation.