As noted above, endowed foundations generally fund their work using income from investments. This means that of necessity they must `store' a pot of money to generate income year by year. In addition, many foundations are required (by the original deed) or aim to exist forever, thus further underlining the need to conserve their wealth.
CITATION STYLE
Leat, D. (2016). Warehouses of Wealth: Payout and Perpetuity. In Philanthropic Foundations, Public Good and Public Policy (pp. 85–96). Palgrave Macmillan UK. https://doi.org/10.1057/978-1-137-48289-1_7
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