If you “inherit” a Charitable Foundation from your parents, is that just as good as inheriting the cash? Can you do anything through the Foundation?

Question

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?

In: 377

Answer 1

You can be the CEO and be paid as much as you want to, you can use the charity for PR, you can use it to buy the shares of your own companies.

It’s not as good but better than nothing.