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"...And at the same time, the group that started the magazine, the National Geographic Society, which used to run on a budget of millions, now has 1.6 billion d
by g8oz 3y ago
"...And at the same time, the group that started the magazine, the National Geographic Society, which used to run on a budget of millions, now has 1.6 billion dollars in its piggy bank."
What on earth are they doing as a non profit to justify keeping that stash safe from taxation?
- deleted 3y ago[deleted]
- Eddy_Viscosity2 3y ago> What on earth are they doing as a non profit to justify keeping that stash safe from taxation? They are stashing 1.6 billion bucks is what they're doing. Regardless of how pure the original motives may be for any foundation or non-profit, if they get enough money in them they will be taken over by the soul-less financiers.
- dr-detroit 3y ago[dead]
- micromacrofoot 3y agoI think savings like this are typically used as an endowment? they can hold on to it and operate off of the interest (would love if someone can confirm/deny this).
- JoeAltmaier 3y agoIf by 'operate' you mean 'pay executives and lawyers exorbitant retainers' then I suppose you are right.
- ghaff 3y agoThat's what I would assume. Also, while significant, $1.6B wouldn't put it especially near any of the top US university endowments.