We usually think of large private foundations (those with assets of more than $1 billion) as permanent endowments. Names like Ford, Carnegie, Rockefeller, and Packard summon the image of a donor whose vision—and wealth—lasts well beyond his or her lifetime. But a countervailing trend is emerging. Many prospective philanthropists and established foundations are now considering or actively pursuing a limited-life strategy. They are, in other words, planning to close at some future date.
To read this article and start a full year of unlimited online access, subscribe now!Subscribe Now
Already a subscriber?Login
Need to register for your premium online access,which is included with your paid subscription?Register Now