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William Barron Hilton’s pledge to give $1.2-billion to the Conrad N. Hilton Foundation, in Reno, Nev., has drawn considerable news coverage in recent days — particularly because it means less money for heirs such as his granddaughter, the socialite Paris Hilton.
But the anonymous author of the blog Don’t Tell the Donor cautions that the donation isn’t simply taking money out of the hands of the rich and giving it to the poor.
The author writes that Mr. Hilton stands to receive a considerable tax break for his philanthropy.
She also notes that the Hilton Foundation — which already holds more than $3.1-billion in assets — doesn’t channel all of its money to the poor.
“Now, I guess the foundation does do some good work. But don’t forget, it also paid Steven Hilton more than a quarter million dollars in 2006,” the author writes. “The most recent IRS Form 990s for the Conrad Hilton Foundation show three other Hiltons on the payroll, in addition to a group of investment managers who received over $2,300,000 in 2006.”
Is this assessment fair? Or is criticism of the Hilton gift unwarranted because it will probably help those who are less fortunate than the Hilton family? Click on the comments link below this post to share your thoughts.
But the anonymous author of the blog Don’t Tell the Donor cautions that the donation isn’t simply taking money out of the hands of the rich and giving it to the poor.
The author writes that Mr. Hilton stands to receive a considerable tax break for his philanthropy.
She also notes that the Hilton Foundation — which already holds more than $3.1-billion in assets — doesn’t channel all of its money to the poor.
“Now, I guess the foundation does do some good work. But don’t forget, it also paid Steven Hilton more than a quarter million dollars in 2006,” the author writes. “The most recent IRS Form 990s for the Conrad Hilton Foundation show three other Hiltons on the payroll, in addition to a group of investment managers who received over $2,300,000 in 2006.”
Is this assessment fair? Or is criticism of the Hilton gift unwarranted because it will probably help those who are less fortunate than the Hilton family? Click on the comments link below this post to share your thoughts.
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