< 1 min read
August 14, 2013
Where did Homeland Foundation's money go? Venerable foundation appears to have depleted its endowment within 5 years of its founder's death.
"If you start with a portfolio of $34 million in 2006, how do you turn that portfolio into $15.8 million in the space of five years when the first duty of fiduciaries is to preserve the capital entrusted to their care? That duty is succinctly spelled out in the Estate, Powers and Trust Law of New York and was also spelled out in the will of Chauncey Stillman." -- the Millbrook Independent