Big Donors Set Time Limits on Their Philanthropy

Philanthropists are increasingly setting deadlines for their charitable giving, rather than creating foundations designed to last in perpetuity, The Wall Street Journal reports.

Jennifer and Peter Buffett, Charles Feeney, and Bill and Melinda Gates are among the major donors who have imposed so-called spend-down or sunset provisions on their giving in recent years in hopes of having a quicker impact on major global issues than they might following a more traditional approach of long-term annual payouts.

“There are such pressing needs now, from climate change to the economic challenges facing our communities, we need to get focused and step up in a big way now,” said Ms. Buffett, who runs the NoVo Foundation with her husband.