[chrisk]

Question for smarter people than me.  If I were a billionaire (I wish, but please indulge me) and I wanted to make a lasting donation to Stanford but didn’t want my donation to get taxed, could I just establish the “Boston Card Family Foundation to Support Stanford” and donate money to that foundation, whose annual payout goes to support Stanford football expenses.  It is essentially an endowment, but it is operated by the non-profit foundation and thus not officially part of the endowment.

Is that a thing?

BC

I am not a tax planning expert, but whether you donate directly to Stanford or to a private foundation, there are annual limits on the amount you can deduct from income.

It's possible that Freeman could deduct the entire amount in one year, but excess contributions can be carried over for 5 years. It's also possible he already has the money in a private foundation or he could disburse the money over a period of years, which is common with large gifts. I would guess that Stanford football could use a big chunk of this contribution in the next few years.

[chrisk]

Question for smarter people than me.  If I were a billionaire (I wish, but please indulge me) and I wanted to make a lasting donation to Stanford but didn’t want my donation to get taxed, could I just establish the “Boston Card Family Foundation to Support Stanford” and donate money to that foundation, whose annual payout goes to support Stanford football expenses.  It is essentially an endowment, but it is operated by the non-profit foundation and thus not officially part of the endowment.

Is that a thing?

BC

I am not a tax planning expert, but whether you donate directly to Stanford or to a private foundation, there are annual limits on the amount you can deduct from income.

It's possible that Freeman could deduct the entire amount in one year, but excess contributions can be carried over for 5 years. It's also possible he already has the money in a private foundation or he could disburse the money over a period of years, which is common with large gifts. I would guess that Stanford football could use a big chunk of this contribution in the next few years.