Foundations usually dole out 5 per cent annually to maintain perpetuity. Chuck wanted to do big things, especially with bricks and mortar.
“If I have $10 in my pocket and I do something with it today, it’s already producing 10 dollars’ worth of good,” he explained to me one day in his New York office, wearing a cardigan with a hole in the sleeve. “Giving 5 per cent doesn’t do so much good.”
We say that the inverted Foundation business model of NOT building a huge endowment but rather pushing as much money out as operational costs will allow is better. Lacking billions of dollars to start with we decided to ask for some help from people like you.
We are happy to report that the first $2.5 million has come in and is on it way out. Thank you to the thousands of people who have made this possible with their micro-bursts of generosity.