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

No, money in a charitable foundation is not like cash. You could not liquidate/spend that money, you could only continue its causes. You could earn salary as a CEO or trustee of the foundation, however, not billions or anything.