Private Foundations: Giving Away Money Is Harder Than You’d Think
For starters, it’s a lot of work. Unlike cutting a cheque for a charity and walking away with a tax receipt, a private foundation requires a lot of decision-making, governance, administration and upkeep to ensure the giving goes on for decades.
The Hyatt family discovered this for themselves when they decided to set up a private foundation as a way to give back to society and build a philanthropic family legacy…more