Lady Daly
Serene Highness
- Joined
- Aug 13, 2012
- Messages
- 1,174
- City
- Sherwood
- Country
- United States
You've made some good points, Toledo. The blurring between the Archewell Foundation and Production business side is concerning especially when there appears to be "organizational collaboration".
Also, of interest, in the US there is the "5% rule"... the U.S. government expects foundations to use their assets to benefit society and it enforces this through section 4942 of the Internal Revenue Code, which requires private foundations to distribute 5% of the fair market value of their endowment each year for charitable purposes. Depending on the size of each endowment 5% may or may not be a lot of $, i.e. 5% of 1 million dollars is $50,000.
It has been my understanding a charity can easily fall into the tax free, misappropriation grifter trap, 95% for me 5% for you. Hopefully Harry and Meghan have found someone(s) who is experienced to run the various branches of Archewell. It is a fairly new organization/charity. It's my understanding it takes at least 3 years of data to rate a charity so we should be hearing more soon.
FYI, my sister was a special programs dept head of a large US charity prior to her death. If it's done right a charitable organization can be life saving and amazing.
Also, of interest, in the US there is the "5% rule"... the U.S. government expects foundations to use their assets to benefit society and it enforces this through section 4942 of the Internal Revenue Code, which requires private foundations to distribute 5% of the fair market value of their endowment each year for charitable purposes. Depending on the size of each endowment 5% may or may not be a lot of $, i.e. 5% of 1 million dollars is $50,000.
It has been my understanding a charity can easily fall into the tax free, misappropriation grifter trap, 95% for me 5% for you. Hopefully Harry and Meghan have found someone(s) who is experienced to run the various branches of Archewell. It is a fairly new organization/charity. It's my understanding it takes at least 3 years of data to rate a charity so we should be hearing more soon.
FYI, my sister was a special programs dept head of a large US charity prior to her death. If it's done right a charitable organization can be life saving and amazing.
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