Why the Chan Zuckerberg Initiative Is an LLC
Facebook co-founder and CEO Mark Zuckerberg responded to questions about the Chan Zuckerberg Initiative philanthropy organization with a clarification post.
Facebook co-founder and CEO Mark Zuckerberg responded to questions about the Chan Zuckerberg Initiative philanthropy organization with a clarification post.
After Zuckerberg announced earlier this week that he and his wife, Priscilla Chan, had formed the charitable initiative, questions emerged as to why they decided to structure it as a limited liability corporation.
Zuckerberg wrote in a post Thursday (embedded below):
The Chan Zuckerberg Initiative is structured as an LLC rather than a traditional foundation. This enables us to pursue our mission by funding nonprofit organizations, making private investments and participating in policy debates–in each case with the goal of generating a positive impact in areas of great need.
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