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Which of the following statements concerning foundations and endowments is CORRECT? Foundations are: A. grant-making institutions and may have variable time horizons; endowments are established to permanently fund some activity, and typically have minimum payout requirements. B. grant-making institutions and may have variable time horizons; endowments are established to permanently fund some activity, and typically have infinite lives. C. established to permanently fund some activity and have high degrees of risk tolerance. |