Weighing the Benefits of Private and Public Charity

Running a successful, mission-driven foundation requires steadfast vision, strong leadership, and hard work. It also takes time. While the investment of time begins with the start-up, it will continue for years to come. And of course, it takes money as well, and many underestimate the amount needed to operate efficiently, both in terms of the charitable asset size and ongoing operating costs. Many private foundations are established without thorough assessment of all the costs involved and the alternatives available. Often prompted by year-end tax planning or the influence of peers, a quick decision can result in a costly and long-term responsibility.

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