Fun Things We Have Found in Foundation Filings FoundationAdvocate has spent thousands of hours poring over hundreds of thousands of foundations' federal tax filings. We would characterize this as important work, but certainly few would consider it to be fun. That said, we occasionally come across something that makes us smile, and we wanted to share a few of our … [Read more...] about Foundation Fun
Brad Pitt and Angelina Jolie’s Wedding Photos Plunge in Value
Although Angelina Jolie and Brad Pitt established their foundation several years before they got married in 2014, it was only in that year's tax form that an unusual item appeared on their list of assets (click here to see source document or page 23 for mobile devices). While this assets is merely described as "Wedding Photos", we made the intuitive leap that it's photos of … [Read more...] about Brad Pitt and Angelina Jolie’s Wedding Photos Plunge in Value
Who Does Seth Klarman Invest With?
A Peek Inside the Portfolio of an Investment Giant Seth Klarman is one of the most successful investors of the past 50 years. His Baupost fund had racked up huge multi decade gains and is closed to new investors. There is a line around the block of people wanting to put their money into his hands. So who does he trust with his foundation's money? Have a look. … [Read more...] about Who Does Seth Klarman Invest With?
A Bigger Slice, Why Not a Bigger Pie?
Asset Growth Drives Giving Growth
As Go Assets, So Go Disbursements Intuitively, it makes perfect sense that foundations' disbursements are a function of their asset levels. After all, the the 5% mandated payout ratio ties disbursements to assets. Despite this fundamental relationship, we believe that attention to foundation's assets are too often overlooked, as new contributions and highly publicized … [Read more...] about Asset Growth Drives Giving Growth