Life at The Top novel Chapter 1034

Jasper had no idea of the two special guests that arrived in Faith County after him.

At the same time, the man was currently discussing the charity foundation with Wendy.

“This charity foundation will aim to sponsor poor children so they can have a chance to pursue their education. This is also all it will do. From what I know, international charity foundations tend to invest donations in insured financial products and do charitable transactions with the returns as they’re non-profit organizations.

“Some larger charity foundation even have their own investment department.

“JW Company is this charity foundation’s only shareholder, so we won’t do public fundraising. It’s also not time for that yet.

“I’ll have Jake represent me to invest the 10 million from Harbor City when the time comes, and I intend to have an annualized rate of return for this. Say that we set a rate of return of 10%. If it exceeds, then all is well, but if it doesn’t, then I’ll top it up with my own money.”

Wendy frowned when she heard that, “Won’t you make a huge loss if you’re coming up with the principal and also covering the shortage?”

Jasper smiled and replied, “We’re doing charity. In comparison to the money we make, this isn’t much. But this seemingly small sum of money is enough to help a lot of children.

“Besides, it’s not like we’ll definitely making a loss. Charity foundations come with many tax incentives. The main reason why so many enterprises abroad are passionate about doing charity is that it helps reduce the amount of tax one has to pay. For every 1 million we donate, we pay 800 thousand less for tax, meaning we only pay a net amount of 200 thousand. At the same time, we win both the officials’ and society’s favor.

“Our country also has systems like this in place to encourage the development of the charity industry. A certain amount of donations from an enterprise can result in a 100% tax deduction. When this happens, we don’t have to pay a buck, since our tax money will be considered to have gone to charitable donations.

“The most important thing is that the charity foundation is an asset, which benefits us, the society, and the officials.”

Since she worked in finance, Wendy immediately understood what Jasper meant. Soon, her expression became one of keen interest.

“I’ll have someone follow up on this immediately once we get back, so we can go through the procedures as soon as possible.”

Jasper smiled. “Alright. But remember that the point of this is to do charity within our capabilities, so keep things low-profile. There’s no need to broadcast it to the world or it’ll lose its original meaning.

“Find professionals to manage it when the time comes, and we’ll try to distance it as far away from JW Capital and its subsidiaries as possible.”

“Okay,” Wendy replied.

Jasper had almost no time to rest once they returned to Nauritus City as he joined Wendy in submerging himself in work.

The larger JW Capital’s subsidiaries became, the more decisions the parent company had to make.

The team of decision-makers and senior executives grew as well, and while they did help share quite a bit of Jasper’s and Wendy’s burdens, Jasper still had to oversee and approve important decisions and proposals.

“The research and development of a stepper?”

Jasper looked up from the report in his hands to Lance and Chad, who sat in front of him, and asked with a smile, “You two have given me a very tricky question here.”