Abstract
Charitable endowments and other investment assets exceed $500 billion. The taste for perpetual endowments appears to persist as the happy coincidence of donors' desire for immortality for themselves and their cultural beliefs, the professional staffs' desire for employment and authority, and society's desire for narrowly controlled investment capital. While tax laws could be reformed to encourage charities to increase current expenditures, society might better take subsidies now based on organizational form and redirect them to any provider of public goods, nonprofit or proprietary.
How to Cite
39 Ariz. L. Rev. 873 (1997)
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