I'm suddenly very curious about the NC corporation/charity, and how the money is invested such that it earns such a generous interest rate. I'm also curious about which tax laws apply, and what special circumstance are in place for a corporation that donates money to benefit "disadvantaged" children in a
foreign country. The corporation was set up in the week of Oct 19, 2014.
"The O’Briens will
choose charities each year and give grants with the interest earned on the $1 million.
The gifts will benefit
disadvantaged children with a focus on health, safety and sports.
“This charity is helping lift us up and our charities of choice,” Nathan’s mother, Jennifer O’Brien said. “So together, I think it’s a really beautiful thing.”
Registered in North Carolina, the charity’s incorporation documents said the foundation is “committed to honouring the memory of Nathan O’Brien and his legacy of compassion and kindness by helping improve the lives of children … giving them the opportunity to live, hope and pursue their dreams.”
http://www.ctvnews.ca/canada/parent...ity-we-re-exchanging-grief-for-hope-1.2077733
Publication of corporations registered last week:
http://www.gastongazette.com/news/business/new-businesses-getting-a-start-1.392190