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Author: oreck One star, 50 posts Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 121565  
Subject: Non-Profit Organizations Of The Rich. Date: 7/26/2000 10:17 PM
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I notice a great deal of self-made multi-millionaires and multi-billionaires have established "non-profit chairitable organizations" that for an example, donate food to poor people on thanksgiving, provide help to prisioners, help pay the tuition of bright students that are poor, etc.....

What tax-benefit does the multi-millionaire have in setting up one of these?

Do they do it for the "giving" , or is there something (which I suspect is so) that actually causes them to preserve their wealth by paying less in taxes than if they didn't have the non-profit organization to begin with?

It shall be interesting to see what you have to say about this.
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