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Comment by JoshTko | Hacker News Reader

i.e. Buffet donates money to entities that are 100% controlled by friends and family.

For example: The ~$400M donation to Susan Thompson Buffett Foundation give out about 200 scholarships per year at a max of $10k per scholarship ($2M/yr total). At a 10% rate of return (BRK actually does way higher) the foundation earns $40M/yr. So only a tiny fraction of gains are given out. Since the scholarships are $10K max per scholarship the average payout per year is probably way lower than $2M/yr. So really, what is the purpose of this foundation?

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The Susan Thompson Buffett Foundation already spends $500 million annually and has doled out over $6 billion in total donations [1]. A simple Google search would have prevented writing easily falsifiable info..

1- https://projects.propublica.org/nonprofits/organizations/476...

Really interesting, where is the money going, is surely not $500M/yr in nebraska college scholarships which is the sole thing mentioned on their website.

I know information literacy isn’t practiced among conspiracy theorists but it’s literally listed out in detail every single year.

https://projects.propublica.org/nonprofits/organizations/476...

I stand corrected.

From the 2023 tax filing:

1) Center For International Reproductive Health Training - $28 million

2) Federal Democratic Republic of Ethiopia (project support) - $5 million

3) Africa Institute for Development Policy - $3 million.

4) Amhara Regional Health Bureau - $1.35 million.

5) Global Financing Facility - $15 million.

6) Imbuto Foundation (HIV/AIDS programs in Rwanda) - $37 million.

And dozens more organizations. You can view the full tax filing here - https://projects.propublica.org/nonprofits/organizations/476....

There is at least some figures that are wrong on this site since they list exec comp as only $1.1M, then right below the total exec comp is around $2.5M or $3M if you include their other exec comp.

The footnote written below that info:

Officer compensation may be included in charitable disbursements, so Percent of Total Expenses may add up to greater than 100%.

It could also be a data parsing error from ProPublica. The information ProPublica displays is extracted with automated systems from the foundation tax forms (their database contains hundreds of thousands of forms added annually, so manual extraction is out of the question). Any little reporting anomaly can cause such mistakes, but reading the tax form itself gives a clear picture.

The $1.1M is for compensation of officers, and the $3M listed in the table below is for officers and key employees (i.e. non-officers).

This is clearly stated, both on ProPublica's site and in the IRS Form 990 that it's sourced from.

Loss Aversion is a feature of the chimp brain but it turns into a bug after the chimp accumulates too many bananas.

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