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To: SeaViewer who wrote (13464)10/14/2004 3:01:10 PM
From: Tommaso  Read Replies (1) | Respond to of 116555
 
I don't know. I do know that I watched in horror some years ago as a chapter of Phi Beta Kappa voted to "let the investments grow" instead of increasing distributions from a scholarship fund. They seemed proud of how big the fund was, not what was being done with it.

State employees retirement systems have lost countless billions and in some cases are trying to sue the "managers" and "advisors" to recover losses.

Same old same old: the madness of crowds.



To: SeaViewer who wrote (13464)10/14/2004 4:32:30 PM
From: benwood  Respond to of 116555
 
A foundation has tax exempt status and a bunch of other rules like the one you mentioned, whereas anybody can set up a trust fund just about any way imaginable, including something that doesn't pay out for a whole generation (say, to pay for the grandkids college expenses).


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