{
  "id": 18426782,
  "title": "Zombie foundations: When the foundation itself becomes a funding project",
  "url": "https://urgent.news/2026/11/06/zombie-stiftungen-wenn-die-stiftung-selbst-zum-forderprojekt-wird",
  "topic": "business",
  "section": "Business",
  "published": "2026-11-06T03:00:00.000Z",
  "source": {
    "name": "Handelsblatt",
    "slug": "handelsblatt",
    "url": "https://www.handelsblatt.com/meinung/kolumnen/zombie-stiftungen-wenn-die-stiftung-selbst-zum-foerderprojekt-wird/100267243.html"
  },
  "original_language": "de",
  "account": "A German philanthropist has calculated the costs of running a charity foundation. His foundation has assets of €4 million, invested in bonds, dividend-paying stock funds, and certificates. Annual expenses, including accounting and regulatory compliance, total around €4,900. The philanthropist also spends 118 hours per year on foundation-related tasks, including investment management and tax compliance. The foundation generates around €110,000 in annual returns.",
  "summary": "Small foundations often spend more on themselves than on their cause. One donor's accounts show why nobody notices.",
  "key_points": [
    "Foundation's accounting reveals hidden costs of charitable operations",
    "Donor hires law firm, pays fraction of bill, foundation worth €4M",
    "Donor's 118 hours of personal time valued at €50/hour for fund management"
  ],
  "editors_take": "High administrative costs and significant time investments transform charitable foundations into self-serving entities where a substantial portion of investment returns funds the donor's management rather than external beneficiaries.",
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}