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They gave away 100% of some value... to a charity the company owners run. So they basically gave it to themselves and saved 20% on taxes.
by bcrosby95 4y ago
They gave away 100% of some value... to a charity the company owners run. So they basically gave it to themselves and saved 20% on taxes.
- SideQuark 4y agoNo, before they actually owned the money, and could do anything they wanted with it. Once it's given in this format, even if they're on the board, the money is now legally owned by the charity and must be used for that purpose. They cannot claw it back, they cannot buy Ferraris with it, it's gone. Your comment is exactly an example of beliefs articles like this foster, despite being wrong. Learn how laws work before making unfounded assumptions.