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Some Past Proposed Specific Time Limits on Tax Benefits for Private Foundations
Foundation: Ewing Marion Kauffman Foundation, Lynde and Harry Bradley Foundation, Rockefeller Foundation
Warren Buffett says most of his fortune will be put into a new charitable trust once he's dead, the Wall Street Journal reports.
The billionaire Berkshire Hathaway CEO made the announcement in an interview with the Journal's Susan Matthews.
"I'm going to leave 99% of my wealth to the foundation," says the 83-year-old Buffett, who has pledged to give away 99% of his wealth in a public letter to donors a decade ago.
"I think it's a good idea."
Buffett's two sons and a daughter will oversee the trust, and it's not clear whether it will be "sunset" or "perpetuities," Inside Philanthropy reports.
"Nothing will go to endowments; I want the money spent on current needs," says Buffett.
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A customized collection of grant news from foundations and the federal government from around the Web.
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Social Entrepreneurship
Spotlight
Tom’s Partner with Make It Right to Build Sustainable Homes for People in Need
Tom’s, the social enterprise popular for its shoes, has released a pair of shoes and a pair of shades to benefit Make It Right, a nonprofit founded by Brad Pitt in 2007 that builds affordable, green homes, buildings and communities for underserved and low-income populations.
