Commentary: nascent shift towards time-limited giving is a challenge to perpetual foundations

In a commentary published by The Conversation, Gemma Ware argues that today’s largest foundations are facing renewed scrutiny over whether perpetual institutions can remain effective as society’s needs change. Ware highlights a nascent shift in how billionaires are–however incrementally–shifting to time-limited giving. For example, Bill Gates’ decision to have the Gates Foundation spend down its assets and close by 2045 is a rare but seismic departure from the traditional model of foundations operating indefinitely. Ware also points to Warren Buffett’s plan to direct an additional $140 billion to family-run foundations before 2035, with those foundations expected to distribute funds within a decade of his death. Even as most foundations remain in perpetuity, time-limited philanthropy may soon have its day.