4 ms·
I've always felt that if I ever cashed out big on something, I'd probably put a good chunk of the money into building a charitable foundation and make the found
by rwhitman 16y ago
I've always felt that if I ever cashed out big on something, I'd probably put a good chunk of the money into building a charitable foundation and make the foundation my fulltime job. If you have the money to invest and you've already been successful at founding an organization, why not invest in something that can continue to fund raise and keep giving over the long term?
- alain94040 16y agoGreat. One more foundation to which I have to apply, pitch and convince the decision makers. More red tape. Seriously, when you are faced with that problem (of having too much money), please look around. Just maybe, there might be something that already does what it is that you want to do. You do not have to reinvent the wheel to satisfy your ego by having a foundation with your name on it.
- rwhitman 16y agoI've worked with plenty of nonprofits over the years. More than I can count. The point here isn't about putting a name on something for an ego boost, its about effectively managing my (hypothetical) money in a controlled and sustainable way over a longer period of time so it can be put into multiple causes, rather than dumping it all into someone's lap one day and saying 'go'. And by moving this hypothetical money into a 501(c), it puts the money to work over time while keeping it out of reach to blow on tempting luxuries. I stand behind this idea.