Quote:
Originally posted by nostatic
But the original source of the endowments is philanthropic. Without the original gift, there is nothing to incorporate.
I see what you're saying, but I still have questions about the numbers and scale. For instance to educate every kid in your town, how many "non-profit" companies are we talking about?
I'm not trying to diss the idea...just see if it has legs under scrutiny. I'd like to try and fix this problem. Somebody has to....might as well be pelicans.
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That is why I was looking at businesses rather than setting up endowments. Nothing against endowments - they just require a LOT of up front capital and nobody gets paid back for their investment. One can start a business with borrowed money and then pay back the lenders over time - plus businesses provide employment which was another plus in my view. But yeah, someone still needs to pony up the seed money - just less than needed for a full-blown endowment.
That is also why I keep saying "after I retire". I'm game to pony up some cash once I
have cash to spend. And I assume unless others do the same, then my idea is dead. Frankly, if I could do it alone, then I would not bother telling anyone about it. So of course, this is not the first place I've tried to sell this idea. I generally tell it anyone who will listen.
But regardless, I'm sure funding can be found. I picked the non-profit idea mainly because it works so well here with oil. So I have to assume someone has already worked out those bugs (like startup costs). Heck, maybe the solution is to start an oil company that operates in a different region from Joe Kennedy's company but otherwise does everything else the same. Maybe I just need to call Joe and ask him how he did it.