How far will they go?
Revisiting the idea of perpetuity
1 December 2008
Alliance magazine
As most know, the US has the friendliest public policy towards private charity among developed nations. Gifts to charities and foundations are tax-deductible with only minor limits. In most cases, foundations’ earnings are tax-exempt as well. Once established, foundations are bound to distribute 5 per cent of the current value of their assets each year. But is this enough? Do we really want eternal foundations?
