Wealth Building in Wealth Deserts
SCOTTSDALE, AZ – The art of philanthropic wealth building within Native American communities is often a combination of genius, culture, and the bending of longstanding practices to meet unique needs –also known as walk-arounds.
The Hopi Foundation, for example, established two endowed funds with the help of the Arizona Community Foundation. The first endowed fund provides funding that awards $10,000 to a clinician dedicated to helping survivors of torture receive the help they need. The second endowed fund provides administrative support to the Hopi Foundation in perpetuity.
A scholarship fund known as the Hopi Education Endowment Fund was established under the governance of the Hopi Tribal government using Section 7871 of the Internal Revenue Service Code which provides that Indian Tribal governments will be treated as States for certain federal tax purposes. The extended benefit of Section 7871 allows tribal governments to maintain a greater degree of sovereignty than Section