Many people seem to believe that “inheriting” e.g. The Gates Foundation is just as profitable as inheriting tens of billions in cash. My gut tells me that charitable law must be more complicated than that. What’s the truth?
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Just like good and bad people there are good and bad foundations.
Some foundations do good for the world.
Other foundations are just grift and a way to avoid paying taxes (including inheritance taxes). Many foundations only spend a fraction of their donations on a charitable cause, and CEOs of those “foundations” often make millions.
From the tech world two of the worst “foundations”/nonprofits are: Mozilla – where CEO makes 2 millions of dollars per year while laying off the employees. And Wikipedia that only spends less than a half of it’s donations on actually maintaining wikipedia. Majority of their profits go to maintaining a lavish headquarters in middle of San Francisko and paying high six figure salaries for executives.
I recommend: [https://www.charitywatch.org/our-charity-rating-process](https://www.charitywatch.org/our-charity-rating-process) (Wikimedia would get D using their criteria, btw.)
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