Le 2013-03-14 12:12, Andrew Gray a écrit :
On 14 March 2013 08:09, Manuel Schneider
<[email protected]> wrote:
thanks for collecting these links, they are interesting. Anyway, I
didn't fully understand the idea behind the page, especially as a
non-native speaker I have problems to come up with a proper
translation
/ understanding of "Endowment". I understand it as "what WM(F) owns"
and
it may refer to the "right" WM(F) expects to have on getting / using
their donated money or may refer to the reserves WMF is currently
building.
Can you explain this a bit better for people like me, please? Maybe
right on that Meta page would be good, so others can read it as
well.
Hi Manuel,
The basic idea of an endowment is that it's a large sum of money
collected to "set up" a charity - it then uses the income from
investing this money to cover some or all of its operating costs,
rather than just spending it over a long period of time. The Wellcome
Trust is a pretty good high-profile example; it has a capital
endowment of around fifteen billion pounds, and spends about six
hundred million (4%) a year.
(In the US context, they're very common for universities, but this is
less so in Europe; here it's more "traditional charities")
I've given a quick outline on the meta page. Building up an endowment
sufficient to run WMF would be tricky, of course :-)
Let's hope it won't turn up into a "charity business" like the Gates
Foundation whose investisements are benefits driven, with no
consideration to ethical problems.
--
Association Culture-Libre
http://www.culture-libre.org/
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