What makes high-end philanthropy different from low-end philanthropy?
When you donate something to a charity (money or physical objects) do you then get to keep using the money or objects?
No, you no longer have them in your possession - you have relinquished control of it.
The rich set up foundations called a Donor-advised fund
It is: a public charity, where an individual can make a charitable gift to enjoy an immediate tax benefit and retain advisory privileges to disburse charitable gifts over time.
Ask yourself why every single billionaire starts his or her own charity instead of giving to the thousands that already exist.
Because once it is gifted like that it no longer belongs to them. They are literally donating money to themselves and
avoiding taxes.
When you donate something to a charity (money or physical objects) do you then get to keep using the money or objects? No, you no longer have them in your possession - you have relinquished control of it.
The rich set up foundations called a Donor-advised fund
It is: a public charity, where an individual can make a charitable gift to enjoy an immediate tax benefit and retain advisory privileges to disburse charitable gifts over time.
Ask yourself why every single billionaire starts his or her own charity instead of giving to the thousands that already exist. Because once it is gifted like that it no longer belongs to them. They are literally donating money to themselves and avoiding taxes.