Most of us don’t question the basic operating procedures of private foundations. They are what they are. But if not for a turn of events a century ago, the common business model for foundations could have evolved in a much different – and, to my mind, much better – way. Continue reading
You may have seen this recent video on wealth inequality. It graphically shows how 40% of the nation’s financial assets are now owned by only 1% of the population. By contrast, the 80% of Americans with the least wealth control only 7% of the assets. Or, to put it another way, the wealthiest 3 million people in this country own nearly six times more wealth than the poorest 240 million.
There are many reasons to find this trend disturbing. This is a huge issue for our nation, economically, politically, philosophically, and morally. But here’s today’s question: How does the growing wealth disparity in the United States affect nonprofits? Continue reading
I am pleased to discover that I have a few things in common with Warren Buffett.
Like Warren, I’m not one for formalities, and I’m known to appreciate a bargain. So I got a kick out of hearing the details of his 2006 marriage to his wife Astrid. They had a simple ceremony with immediate family at the home of Warren’s daughter Susie. Then the family celebrated with a meal at the Omaha Bonefish Grill, where Warren made a point of ordering off the Seniors Menu.
Truly, that’s the kind of wedding reception I could get behind. Why waste money, even if you’re one of the richest men in the world?
I also find that Warren and I agree about the inefficiencies inherent in creating a perpetual charitable foundation. Continue reading