# kaal:claim:3981021-003

**Claim.** Private foundations exercise plutocratic power because their leaders and trustees are not elected democratically, they are permitted to operate in perpetuity, and their operations lack accountability and transparency.

**Type.** mechanism  **Support.** evidenced

**Holds when.**

- private foundations
- jurisdictions permitting perpetual foundations

**Source quote.**

> Private foundations have plutocratic power because such organizations' leaders or trustees are not elected democratically, they are allowed to work in perpetuity, and their operations lack accountability and transparency.

**From.** Wulf A. Kaal, *How Decentralized Autonomous Organizations Optimize Charitable Giving* (2021), Motivation, Lack of Transparency, page 10

**Cite as.** Wulf A. Kaal, How Decentralized Autonomous Organizations Optimize Charitable Giving (2021). SSRN: https://ssrn.com/abstract=3981021

**Verify.** sha256 of source PDF `9d8bc78d119c780c96c89ce3e820f4ac8b037d39b3ade59feb4e40d46b048288` at https://raw.githubusercontent.com/wulfkaal/Academic-Papers/main/papers/pdf/Kaal%20-%202021%20-%20How%20Decentralized%20Autonomous%20Organizations%20Optimize%20Charitable%20Giving.pdf

**Topics.** disclosure, governance-design

**Keywords.** private-foundations, plutocracy, accountability, transparency, governance

**Related claims.**

- extended_by: https://wulfkaal.github.io/claims/4685567-003

**Canonical form.** This markdown file is the canonical hashed representation of the claim. Its sha256 is the content hash used for attestation.