3 ms·

I really wish non-profits could have for-profit endowment components in them, instead of having to ask for money every year. Rather than giving now or giving l

by cbhl 8y ago

I really wish non-profits could have for-profit endowment components in them, instead of having to ask for money every year. Rather than giving now or giving later, we could be giving forever by only spending the interest on the capital.

maxerickson 8y ago
One of Bill Gates ambitions is to have his foundation be done when he dies. He doesn't want it to go on forever with the mission drifting away from his and so on. How does what you are thinking line up with Mozilla Foundation and Mozilla Corporation? The corporation does most of the stuff we think of as Mozilla and is wholly owned by the foundation.
namibj 8y ago
Germany has/had some old institutions [0] that work(ed) that way. The keyword is Stiftung [1]. There seems to be nothing comparable in the US though, and you don't get a tax break for the donation, even though any business it conducts in the states is treated like a 501(c), provided it would be classified a 501(c) if it were a US based institution. [0]: https://en.wikipedia.org/wiki/B%C3%BCrgerspital_zum_Heiligen_Geist https://en.wikipedia.org/wiki/B%C3%BCrgerspital_zum_Heiligen... [1]: https://en.wikipedia.org/wiki/Stiftung https://en.wikipedia.org/wiki/Stiftung
- slededit 8y ago
  A number of funded charities are setup that way. Carnegie made many of them. Bill Gates is actually a bit unusual in terms of the ultra rich setting up foundations - most wanted their institutions to carry on indefinitely. However BillG is adament the money is spent completely shortly after his death as he doesn't feel the dead should control the future. https://en.wikipedia.org/wiki/Carnegie_Endowment_for_International_Peace https://en.wikipedia.org/wiki/Carnegie_Endowment_for_Interna... http://carnegieendowment.org/about/pdfs/carnegie_trusts.pdf http://carnegieendowment.org/about/pdfs/carnegie_trusts.pdf
gamblor956 8y ago
Non-profits can have a for-profit component. They simply have to pay taxes on the for-profit component if it's not directly part of their charitable purpose. (It gets complicated, but for example: museum admissions fees are generally not taxable; gift shop income isn't taxable if all the stuff is related to the exhibits, etc.)

by cbhl 8y ago

maxerickson 8y ago

One of Bill Gates ambitions is to have his foundation be done when he dies. He doesn't want it to go on forever with the mission drifting away from his and so on. How does what you are thinking line up with Mozilla Foundation and Mozilla Corporation? The corporation does most of the stuff we think of as Mozilla and is wholly owned by the foundation.

namibj 8y ago

Germany has/had some old institutions [0] that work(ed) that way. The keyword is Stiftung [1]. There seems to be nothing comparable in the US though, and you don't get a tax break for the donation, even though any business it conducts in the states is treated like a 501(c), provided it would be classified a 501(c) if it were a US based institution. [0]: https://en.wikipedia.org/wiki/B%C3%BCrgerspital_zum_Heiligen_Geist https://en.wikipedia.org/wiki/B%C3%BCrgerspital_zum_Heiligen... [1]: https://en.wikipedia.org/wiki/Stiftung https://en.wikipedia.org/wiki/Stiftung

slededit 8y ago
A number of funded charities are setup that way. Carnegie made many of them. Bill Gates is actually a bit unusual in terms of the ultra rich setting up foundations - most wanted their institutions to carry on indefinitely. However BillG is adament the money is spent completely shortly after his death as he doesn't feel the dead should control the future. https://en.wikipedia.org/wiki/Carnegie_Endowment_for_International_Peace https://en.wikipedia.org/wiki/Carnegie_Endowment_for_Interna... http://carnegieendowment.org/about/pdfs/carnegie_trusts.pdf http://carnegieendowment.org/about/pdfs/carnegie_trusts.pdf

gamblor956 8y ago

Non-profits can have a for-profit component. They simply have to pay taxes on the for-profit component if it's not directly part of their charitable purpose. (It gets complicated, but for example: museum admissions fees are generally not taxable; gift shop income isn't taxable if all the stuff is related to the exhibits, etc.)