>Too many well-intentioned organizations wind up milquetoast tax-exempt hedge funds aimed primarily at self-preservation because the received wisdom is that the

>Too many well-intentioned organizations wind up milquetoast tax-exempt hedge funds aimed primarily at self-preservation because the received wisdom is that they should focus on building endowments and keep their withdrawal rates below 4% in order to achieve immortality. Which charities are giving away less than 4% a year? Charitable foundations in the US are required to give away at least 5% of their endowment a year: https://www.ncfp.org/wp-content/uploads/2018/09/The-Five-Percent-Minimum-Payout-Requirement-COF-2000-the-five-percent-minimum-payout-requirement.pdf https://www.ncfp.org/wp-content/uploads/2018/09/The-Five-Per...