Time Horizon for Foundations?

Typically finite or infinite? I got a question from Schweser QBank that states that foundation return objectives depend on the time horizons and may be “finite-lived entities”. However, I didn’t find any readings from Schweser or CFAI that offers more commentary.

I don’t have the book in front of me to reference any page #. But I remember reading in CFAI book that foundations are initiated with a purpose and typically have finite horizon. They are not like endowments that are perpetual in nature. However, that said, there could be foundations that “may” have long horizon.

Hi Freshie, Great, this aligns to my readings too. If you happen to find the page #, so that we can both confirm be 100% sure, that would be great.

This is from CFAI reading 18 page 243: “The term of a foundation is typically indefinite, in that it exists until wound up”.

From Schweser’s materials and online programme: Infinite unless they have a specific time horizon.

I can’t think of a finite horizon foundation. Anybody got one?