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Indeed, and I'm not sure it would be a defensible position to just be stashing your donated funds into a gigantic rainy day war chest— the money is there to spe
by mikepurvis 6y ago
Indeed, and I'm not sure it would be a defensible position to just be stashing your donated funds into a gigantic rainy day war chest— the money is there to spend on growing and fortifying the service in other ways, so it should be spent.
- tristor 6y agoThe proper way for non-profits to do this is to start an endowment fund, which provides consistent residual income that can help fund operations. Usually by identifying specific large donors who would wish to be named in the fund.
- hinkley 6y agoI guess we’re “disrupting” foundations too.
- tristor 6y agoI'm not sure I understand your meaning? Endowments and foundations are different things with different objectives. Many foundations may have endowments of their own, and may use them to issue grants to non-profits. From a legal and financial perspective though, there's a difference between a non-profit having an endowment itself which provides restricted funds for specific operational activities vs how foundations typically create and structure endowments for external giving. Both concepts have been around for decades, so I don't think either is particularly disruptive.
- mikepurvis 6y agoIt looks as though they do indeed have such a fund: https://www.theguardian.com/technology/2016/jan/15/wikipedia-fund-future https://www.theguardian.com/technology/2016/jan/15/wikipedia...