Foundations can be an exceptionally beneficial force for good for many reasons. The most obvious being that there is money to be allocated to causes that fit the mission of the foundation. The monetary gifts of a foundation can make a pivotal difference to an organization. This gives a foundation with great means some very great power.
In the book No Such Thing as a Free Gift by Linsey McGoey, the author studies the impact of the greatest wealth givers of our time—Bill and Melinda Gates. McGoey explores the differences that the millions of dollars of donations have made in America and around the world. Take for example Common Core. The Gates Foundation has greatly changed the direction of American education. Whether this is positive or negative depends on the person making the analysis. Some see it as being an amazing way to use the billions that Bill Gates has earned, and to give it to important causes creates a greater good. Others, like McGoey, question that this type of philanthropy has created a world where the wealthy wield more power than a government or organization. The fact that Bill Gates can fund such a significant change in educational policy, global agriculture, and global health is quite a feat.
The question is, why should philanthropy be regulated by the government or independent/outside directors? Is this necessary, and is this the right thing to do? OR, should people who have earned wealth and want to give generously be allowed to freely fund the things that they believe in and are dedicated to without an intervention?