"These foundations are putting their money to far better use than the government would. They are doing the things that governments should be doing, but aren't."
Actually no. These "charities" fund a lot of health and social initiatives but the state invests in infrastructure, jobcreation, rule of law etc. Those make all the other stuff possible.
Besides that I prefer democracy to a situation where one person decides where a big part of societies money is spent on. Private charities often influence the spending of state money as described in this article : http://www.nytimes.com/roomfordebate/2012/11/27/are-charities-more-effective-than-government/vital-needs-dont-always-attract-donations