# Foundations

`kaal:entity:foundations`

**Status.** derived

This node is assembled mechanically from the 2 claims that carry the concept tag `foundations`. It is a roster of what the corpus says under this term. It is **not** an adjudicated definition: no single statement here has been ruled canonical, and no first-appearance call has been made. Read the claims and judge for yourself.

## Every claim under this term

2 claims across 2 works, 2012 to 2021.

**2012**

- [2029983-028](https://wulfkaal.github.io/claims/2029983-028) [failure/argued] *(failure mode)* -- The WCAM requirement that a court approved foundation pursue the action makes the Dutch regime more burdensome than the U.S. system, which requires only a lead plaintiff and class approval.
  > This WCAM re- quirement makes the Dutch regime somewhat more burdensome than the United States' system, which simply re- quires a lead plaintiff and class approval.
  Wulf A. Kaal, Richard W. Painter, Forum Competition and Choice of Law Competition in Securities Law after Morrison v. National Austral (2012). SSRN: https://ssrn.com/abstract=2029983

**2021**

- [3981021-008](https://wulfkaal.github.io/claims/3981021-008) [failure/evidenced] *(failure mode)* -- Although the five percent annual payout is only a legal minimum for foundations under 2021 law, many boards treat five percent as the default rule, which entrenches minimal disbursement.
  > As the law stands in 2021, foundations are only required to spend 5% of their assets a year.51 Although this is a minimum requirement for foundations, many boards view 5% as the default rule.
  Wulf A. Kaal, How Decentralized Autonomous Organizations Optimize Charitable Giving (2021). SSRN: https://ssrn.com/abstract=3981021

## Verify

Every claim above resolves to a record carrying a verbatim source quote, the sha256 of the source PDF, and a preformatted citation. Nothing here asks to be taken on trust.

    curl -s https://wulfkaal.github.io/entities/foundations.md | sha256sum

**Canonical form.** This markdown file is the canonical hashed representation of this entity node. Its sha256 is the content hash.