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This article is part of a series that explains the differences between foundations and endowments, their power to advance the sustainable investing agenda, and investigates a variety of investment approaches.
It’s no surprise that the more money philanthropies have, the more good they can do in the world. That’s why foundations and endowments have the power to create progress, champion sustainability and create an equal playing ground. Let’s first explore what foundations and endowments are, and the differences between each.
What are foundations?
Foundations are tax-exempt, non-governmental and nonprofit companies. Similar to charities, foundations are set up as a Section 501(c)3. A popular example of a foundation is the Bill & Melinda Gates Foundation. Foundations fund affinity social causes and provide grants to those doing charitable work or research. To remain a nonprofit, a foundation must spend 5% of its assets as grants.