There are around 40,000 private foundations (PFs) with assets in excess of $500 billion.1 These PFs distribute an average of more than 5% of their wealth, about $30 billion each year, to charitable institutions and causes.2 66 percent of PF households are managed, and 75% have assets of less than $1 million.3 Many of these PFs, like family dynasty trusts, are set up as a permanent or long-term family unit. they are not usually the same
