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A mutual-benefit corporation can be non-profit or not-for-profit in the United States, but it cannot obtain IRS 501(c)(3) non-profit status as a charitable organization. [1] It is distinct in U.S. law from public-benefit nonprofit corporations, and religious corporations. Mutual benefit corporations must still file tax returns and pay income ...
An endowment policy is a life insurance contract designed to pay a lump sum after a specific term (on its 'maturity') or on death. [ 1 ] [ 2 ] These are long-term policies, often designed to repay a mortgage loan, with typical maturities between ten and thirty years within certain age limits.
The goal was a $5 million endowment for the fund, which would provide $250,000 per year in perpetual funding to ensure the future of the charity. Keli Coughlin, executive director of the foundation, who happens to be Tom's oldest child, stated: [7] This campaign for the endowment is an insurance policy of sorts.
The Commonwealth Fund is a private American foundation whose stated purpose is to "promote a high-performing health care system that achieves better access, improved quality, and greater efficiency, particularly for society's most vulnerable, including low-income people, the uninsured, and people of color."
[3] [1] The board of Fidelis sold the plan to Centene for $3.75 billion. [1] As part of the purchase agreement, the Mother Cabrini Health Foundation was created and funded with $3.2 billion from the sale. [1] [4] The foundation awarded its first round of grants for year-end 2019 to benefit programs in 2020, totaling approximately $150 million.
The Helene Fuld Health Trust is the largest charitable trust in the United States devoted exclusively to supporting student nurses and nursing education. The trust — which began as a foundation in 1935, but transferred its assets to the trust in 1969 — has provided grants, scholarships, and financial aid for the education, health, and welfare of student nurses.
He was a founder of the Health Insurance Plan of New York (HIP). His work to reshape the city's health services has influenced how millions of New Yorkers have received care over many decades Felix M. Warburg: 1912–1937 a member of the Warburg banking family of Hamburg, Germany, the brother of Paul Warburg, and a partner in Kuhn, Loeb ...
A foundation (also referred to as a charitable foundation) is a type of nonprofit organization or charitable trust that usually provides funding and support to other charitable organizations through grants, while also potentially participating directly in charitable activities.