Gates Foundation Changes Structure | Chron.com - Houston Chronicle

Gates Foundation Changes Structure | Chron.com - Houston Chronicle: "Gates Foundation Changes Structure

By DONNA GORDON BLANKINSHIP Associated Press Writer
© 2006 The Associated Press
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SEATTLE — The Bill & Melinda Gates Foundation will be altering its internal financial structure to cleanly separate its program work from investment of its assets, the foundation announced this week.

The reorganization plan, which takes effect in January, will also help the foundation accommodate an infusion of stock from Warren Buffett, the organization announced Wednesday. Buffett said in June he would be giving most of his money to the foundation in annual installments worth about $1.5 billion. His first gift was made in August.

Buffett has given the foundation a few years to ramp up before requiring that it distribute his entire donation each year, which will effectively double the dollar amount of grants the foundation makes."