On 9/11/20 00:07, John Brier via AMSAT-BB wrote:
That's $2.5 million a year for 20 years.
Actually, it is not limited to 20 years. Granting organizations invest their funds, and grant from the income. This is probably meant to still be going long from now.
Clearly you're talking to someone who doesn't invest. I imagine you could make a lot of money off that amount of money. Good point!
The IRS requires charitable foundations that earn most of their income from investments (as opposed to public donations) to give away at least 5% of their assets every year. Unfortunately, that number doesn't seem to change with inflation or the prevailing market returns so it may or may not be possible to make grants in perpetuity without growing your endowment from other sources.
Phil