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Remember Mozilla is ultimately a non profit and must spend a healthy percentage of their income every year. And Harvard has a multi-billion dollar endowment th
by protomyth 5y ago
Remember Mozilla is ultimately a non profit and must spend a healthy percentage of their income every year.
And Harvard has a multi-billion dollar endowment that they hoard. Mozilla is doing it wrong.
- throwaway2037 5y agoA quick Google search tells me the rule in the United States IRS is: <<Generally, a private foundation must meet or exceed an annual payout requirement of five percent of the average market value of its net investment assets to avoid paying taxes.>> Harvard endowment is so huge for two reasons: (1) fundraising, (2) earning more than 5% per year for long, long, long time. But they still must spend 5% per year of their massive endowment. Running a non-profit with only an endowment (no fund-raising) for more than 20 years with is hard to do.