Warehouses of Wealth: Payout and Perpetuity

  • Diana Leat


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.


Require Rate Public Benefit Intergenerational Equity Investment Income Administrative Expense 
These keywords were added by machine and not by the authors. This process is experimental and the keywords may be updated as the learning algorithm improves.


  1. Anheier, H.K., and D. Leat. 2006. Creative philanthropy. London and New York: Routledge.Google Scholar
  2. Association of Charitable Foundations. 2010. Spending out; Learning lessons from time-limited grant-making. London: ACF. Scholar
  3. Australian Government Treasury. 2008. Improving the integrity of prescribed private funds (PPFs): Discussion paper, Canberra, Commonwealth of Australia.Google Scholar
  4. Billiteri, T.J. 2007. Linking payout and mission. A national dialogue with foundation leaders. Washington, DC: Aspen Institute.Google Scholar
  5. Bishop, M., and P. Green. 2008. Philanthrocapitalism: How the rich can save the world. London: Bloomsbury.Google Scholar
  6. Boris, E.T., and C.E. Steuerle. 2007. The growth of donor control: Revisiting the social relations of philanthropy. Nonprofit and Voluntary Sector Quarterly 29(1): 113–130.Google Scholar
  7. Bothwell, R. 2003. Should foundations exist in perpetuity? The International Journal of Not-for-Profit Law 6, 1, September.
  8. Brilliant, E. 2000. Private charity and public inquiry: A history of the Filer and Peterson commissions. Bloomington: Indiana University Press.Google Scholar
  9. Charity Commission. 2009. Firm foundations—A snapshot of how trusts and foundations are responding to the economic downturn in 2009.
  10. Deep, A., and P. Frumkin. 2005. The foundation payout puzzle, Hauser Center for Nonprofit Organizations. Working paper no. 9.Google Scholar
  11. Dempsey, S.C. 2009. In tough times, it’s time to step up. International Business Times, 2nd February.
  12. Driscoll, L., and P. Grant. 2009. Philanthropy in the 21st century. London: Cass Business School.Google Scholar
  13. Eisenberg, P. 2009. What’s wrong with charitable giving - and how to fix it, heard on the street. The Wall Street Journal.
  14. Martin, M. 2008. Managing philanthropy in a downturn.
  15. McGee, V. 2010. Stories of giving “asking, saying yes, saying no. N. MacDonald, and L.T. de Borms (eds.) op.cit., pp. 327–344.Google Scholar
  16. Renz, L. 2012. Understanding and benchmarking foundation payout. New York: Foundation Center.CrossRefGoogle Scholar
  17. Renz, L., and D. Wolcheck. 2009. Perpetual or limited life foundations: How do families decide? New York: Foundation Center.Google Scholar
  18. Toepler, S. 2004. Ending payout as we know it: A conceptual and comparative perspective on the payout requirements for foundations. Nonprofit and Voluntary Sector Quarterly 33(4): 729–738.CrossRefGoogle Scholar

Copyright information

© The Editor(s) (if applicable) and The Author(s) 2016

Authors and Affiliations

  • Diana Leat
    • 1
  1. 1.Cass Business SchoolLondonUK

Personalised recommendations