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Philanthropists Set Spending Deadlines
The Wall Street Journal
May 21, 2009
By Shelly Banjo
A growing number of philanthropists are adopting spending deadlines and sunset provisions to ensure urgent global needs are addressed in a timely way.
By granting the entirety of funds within a certain period of time, these charitable efforts are looking to have a bigger immediate impact than traditional foundations, which are typically set up to last forever and pay out roughly 5% of assets a year.
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