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Thread started 06/18/17 11:45am

2freaky4church
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The truth about celebrity giving.

Forbes nails it:

https://www.forbes.com/20...elebs.html

Why have a foundation? Just give money. They do this to promote their names. Oprah gives a lot but not enough for how much she makes. She could end Chicago homelessness alone.

"2freaky is a complete stud." DJ
"2freaky is very down." 2Elijah.
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Reply #1 posted 06/18/17 11:46am

2freaky4church
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The same pukes then want to raise taxes. See, I can vent right wing. lol

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Reply #2 posted 06/18/17 2:51pm

EmmaMcG

Most of them may do it just because they want to be seen doing it. They're not so much giving to charity as they are paying for the positive publicity. And that's more obvious with some than others. But I'm ok with that because even if the money is not being given with pure intentions, at least it's being given. That's the most important thing.

And of course the argument could be made that people like Oprah and Bono could give more but they don't actually have to give anything.
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Reply #3 posted 06/19/17 10:56am

sonshine

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I imagine you would have to develop a very thick skin if you were one of these celebrities. Can you imagine the number of requests for donations they must field?! My guess is that's a big reason Prince kept his charitable activities on the down low. Oprah and the like undoubtedly have large staffs that handle that business, but some famous people just aren't about all that additional hassle either i'm sure.
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Reply #4 posted 06/19/17 10:57am

sonshine

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2freaky4church1 said:

The same pukes then want to raise taxes. See, I can vent right wing. lol



falloff

(Don't even get me started!)
[Edited 6/19/17 10:58am]
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Reply #5 posted 06/19/17 11:14am

2freaky4church
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Or they give to the 3rd world. Easier to defend supporting starving children.

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Reply #6 posted 06/19/17 11:40am

SuperFurryAnim
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Can you lend a friend $100 2freaky?

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Reply #7 posted 06/19/17 1:01pm

PeteSilas

people are never happy, nicki minaj recently was doing some kind of college fund and there has to be some asshole to talk shit. People are so negative. I once remarked how elvis gave cadillacs and bought houses for motherfuckers, a lady said "that wouldn't even be much money to him" I just said, "he doesn't have to give anything". guarantee you, the people he bought shit for appreciate it. god bless anyone who gives to something that helps someone else.

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Reply #8 posted 06/19/17 2:23pm

2freaky4church
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Who punched ya?

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Reply #9 posted 06/19/17 3:05pm

RodeoSchro

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Without having read the article, but WITH having set up numerous foundations for ________, I can tell you that the NUMBER ONE reason anyone sets up a foundation is so they can refer the hundreds and thousands of requests they get for money to a third party.

When you get as many requests as people like __________ and ___________ and _____________ get (fill in any names you want), it is so much easier to say, "Call my foundation, they handle this sort of thing" than it is to say "No".

I love you but you are wholly unqualified when it comes to this side of the business.

Second Funkiest White Man in America

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Reply #10 posted 06/19/17 3:09pm

RodeoSchro

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sonshine said:

I imagine you would have to develop a very thick skin if you were one of these celebrities. Can you imagine the number of requests for donations they must field?! My guess is that's a big reason Prince kept his charitable activities on the down low. Oprah and the like undoubtedly have large staffs that handle that business, but some famous people just aren't about all that additional hassle either i'm sure.




Bingo, I should have read your post first. And it isn't just famous people, it's anyone with a lot of money. Heck, even lottery winners. ESPECIALLY lottery winners.

If people find out you have money, they will ask for it. And if you give out money in your own name, they will never stop asking for it. It's not uncommon for some wealthy people to say, after having been hit on by 3,000 people they've never met, that they just won't give money to anyone. Not because they don't want to help, but because they just can't handle the requests and it's impossible to tell the good ones from the bad ones.

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Reply #11 posted 06/19/17 3:15pm

RodeoSchro

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Other reasons to set up charitable foundations are tax-related. There are a couple kinds of charitable foundations that are popular - Charitable Lead Trusts and Charitable Remainder Trusts. I won't bore you with the details, but suffice to say they can really help you lower your taxes and help out your heirs.

I think I'll read that article now. Surely Forbes touched on this stuff.

(Reading)

No, not really. But then again, this is just a blog post and not a researched article.

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Reply #12 posted 06/19/17 7:00pm

sonshine

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RodeoSchro said:

Other reasons to set up charitable foundations are tax-related. There are a couple kinds of charitable foundations that are popular - Charitable Lead Trusts and Charitable Remainder Trusts. I won't bore you with the details, but suffice to say they can really help you lower your taxes and help out your heirs.

I think I'll read that article now. Surely Forbes touched on this stuff.

(Reading)

No, not really. But then again, this is just a blog post and not a researched article.


Interesting. I'd never thought of it for the tax benefits or to help heirs. Unlike myself my parents have accumulated some wealth and i can't tell you how many conversations we've had about this subject. My parents get torn up about it. They want their money to be their money to use as they wish until they pass and then they want their money to go to their children. But they constantly worry the government is going to end up with the money that they both worked hard for their entire lives. There are so many rules on the money it takes a graduate degree in finance to understand if, how, and when they can spend their money.
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