What Bill Gates needs to learn about philanthropy
Software developer and businessman Bill Gates has a history of miserly giving and is most evidently interested in acquisitions, though recent signs suggest an evolving view of philanthropy. He purchased Leonardo da Vinci's insightful Codex Hammer in 1994 for $30.8 million, a symbolically meaningful but ultimately useless purchase. His company is enormously profitable but gives only a pittance, though its matching-gift program is growing. Gates's best role model in this field would be Andrew Carnegie.
Publication Name: Business and Society Review
Comparing a charitable remainder trust with an outright sale
Charitable remainder trusts (CRTs) can diversify low cost investments while allowing gains and taxes to be spread over several years, yet there is some doubt as to a CRT's benefit. Outright sale of assets and prompt tax payment leave more money in hand than using a CRT, also avoiding the long-term expenses of administering a trust. The greatest long-term advantages of a CRT are the security of an annuity and satisfaction from enacting charitable motives.
Publication Name: Estate Planning
- Abstracts: Using a community foundation to achieve charitable goals. Estate tax marital and charitable deductions need not be reduced by the amount of expenses that would have gone to a spouse or charity
- Abstracts: Planning the future of the Middle Rio Grande Bosque: preserving the river through a revival of public deliberative democracy
- Abstracts: As the competition for electric power heats up, many utilities face the probable loss of existing customers, and winning competitors face Sherman Act liability
- Abstracts: Business interruption insurance baffles claimants: not grasping the nature of the coverage, many think they have tort-like claims for lost profits
- Abstracts: The history and subsequent demise of vacatur upon settlement by Federal Circuit