EFTA00684028.pdf

From: Richard Henriques <Richard.Henriques®gatesfoundation.org> To: Jeffrey Epstein leevacation@gmail.com> Subject: RE: Donor vehicle Date: Tue, 15 Apr 2014 15:29:17 +0000 The Gates Foundation has two entitles: one represents the operations of the foundation and the other holds the financial assets. We refer to the second entity as the "asset trust.' From: Jeffrey Epstein imallto:Jeevacationtegmall.comi Sent: Friday, April 11, 2014 4:19 PM To: Richard Henriques Subject: Re: Donor vehicle what asset trust? On Fri, Apr 11, 2014 at 3:03 PM, Richard Henriques <Richard.Henriques@gatesfoundation.org> wrote: Thought to keep it simple in the first email and sufficient to address the question. At this point, there is just one other scenario which represents less control by the foundation, yet still consistent with the assumptions we have been discussing: BkIGF creates new Wastmmon stele nonproft corporation to wady as a pt06c chanty wth Me IRS eNnCol: NewCo would have an independent board oft:Hectors (or could Moo a mincay of BIAGF board members). M a public dere), NeaCo cat sponsor DAFs. NewCo creates new Muted liabrity company subsolery. Though algdy-owned by Nedito. me LLC would be nunager-mmaged and BIAGF would sone as the manager. The LLC wood told al Sodsdonate:I to Nest* that we allocated to emu sibs. NewCo rods. invests. debuts's. reports on and omenvse admnsters donor advised kinds. LLC holds invests. disburses. reports on. end othenvise administers direct donationsor alocabons d &rids from me DAFs *Oh respect to (WU silos. Primary Benefits Separates B&W from admnstraten of DAFs: OAF investments not aggregated with BkIGF.Sit for securbes la* purposes. Primary Challenges. Pommel for LLC lertl immanent, to be aggregated...et BIAGRBil brsecuees law purposes: iderofying pommel board members: pastel for dsagreement betels:1 operation of Nene° and LLC and removal of BIAGF asLLC mirage-. reouressterg and estaNishre ts procedures53r admnstration of DAFs end SSW sibs. From: Jeffrey Epstein [mailto:jnevncatinnegroacom] Sent Friday, Apri 11, 2014 11:24 AN To: Richard Henriques Subject Re: Donor vehicle i thought you had three proposals. ? On Fri, Apr 11, 2014 at 12:12 PM, Richard Henriques <Richard.Henriques(negatesfoundation.org> wrote: Following up on our discussion Weds, below is a description of one of the structural scenarios we arc considering. This is clearly a work in progress and your input at this point would be very helpful. This scenario represents a structure with the highest degree of control for the foundation. A key question : Would the 10-12 potential clients you have in mind be comfortable with this approach? KEY OBJECTIVES: • Create a pnvate donor vehce thermove to a prole foundation tel wd attract substemal sums lo solm global negates that ls hosted by a busied organization nth deep expertise in managing large. nib-faceted philanthropic investmera in a stratego and measureable net • Rroode crw,mun tax effinency for donors and minimize impact on fondabontassel bust payout and nose tax (Wiese reasons. al opoons presented naive a pubic chanty acacia not include gifts direebyorndrealy tote Maximo or me asset out • Accommodate donor-aimed lads. but stmonse for BIAGF control over disbursement and management of brads for select foundation strategies last sibs') ' m e ' " " a Wafer BM and Id s eanda Conomilln BIAGF creates new Washeglan stele nonprok corporation to cony as a NS mantywth Its IRS Ctinto"). Ma pubic choreic tiewCo can sponsor DAFs. NeeCo testy° classes of membershp: EIMGFIRMI oil hold be merrberslip interests wth voting ogles (contrdlirog Merest) and other bundaccm or donors could be added as nonvoting members to provde a goer connection tote orgenizaton for those who ere rooted. BIAGFiSSAI. as the votng member. Ms the lip la apponetemove al a a map: aye! the board of dreclors. emscisam cold cixose to amonteldGF personnel a independent dreaors (or a nix). Rights could also etude approving the appointrreg of indhicksEs to certain key management positions of Nest*: and fig approving the antral budget. BAIGF card mate mine' attributions to Kanto. Flaunty Benefits: alaorro.rn control over et aspects of the eroty: high level of olio' aloes for more streamlined gmemence. can gue donors/others acinsory wars for overall entity. notassets donor achised funds; easiest stnxb.re to gude its devebpment and 'Merano, nab 8MGF prows ard b get prowsinvested in supporting wth mete ezreflise Primary Challenges: Tree to create a new legal erety and seek IRS approval: aggregated secunbesrepaling won ShiraFiSta appeal of a apare enter to poleneS donors: potentild reptant:nal mss assooated with loo nub inguence: members do not usual}, have 'doom odes, tut control Sways creates potenuil risk: requires staffing and establshng as owns procedses for administrate) of !Ws and EIGIAF sloe EFTA00684028 The information contained in this communication is confidential. may be attorney-client privileged. may constitute inside information, and is intended only for the use of the addressee. It is the property of Jeffrey Epstein Unauthorized use, disclosure or copying of this communication or any part thereof is strictly prohibited and may be unlawful. If you have received this communication in error, please notify us immediately by return c-mail or by e-mail to jorvarationft4malgram, and destroy this communication and all copies thereof, including all attachments. copyright -all rights reserved The information contained in this communication is confidential, may be attorney-client privileged, may constitute inside information, and is intended only for the use of the addressee. It is the property of Jeffrey Epstein Unauthorized use, disclosure or copying of this communication or any part thereof is strictly prohibited and may be unlawful. If you have received this communication in error, please notify us immediately by return e-mail or by c-mail to jccvacation@gmail.com, and destroy this communication and all copies thereof, including all attachments. copyright -all rights reserved EFTA00684029