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The obscure rule that is discouraging billionaires’ foundations from going big on coronavirus

The obscure rule that is discouraging billionaires’ foundations from going big on coronavirus

May 1, 2020 | Theordore Schliefer

Theordore Schliefer, senior reporter for Money and Influence (seems redundant, no?) at Recode, is troubled by the fact that “almost all foundation have taken [the 5% payout rule] as a maxim that they’ll never do a penny more than that 5%, the legal...
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