Wednesday, October 12, 2005

Google Starts Up Philanthropy Campaign

Google Starts Up Philanthropy Campaign: "Google Starts Up Philanthropy Campaign
Some Question Structure of Giving, Which Allows Company More Flexibility

By David A. Vise
Washington Post Staff Writer
Wednesday, October 12, 2005; Page D04

Google Inc. is launching an unusual corporate philanthropy campaign that will focus on fighting poverty and disease in Africa, addressing energy and environmental issues, and assisting nonprofit groups by giving away free online advertising.

Rather than doing all of that through a traditional corporate foundation, which has certain tax advantages, Google is setting aside the equivalent of 3 million shares of stock, worth more than $900 million, to fund an entity called It is separately putting about $90 million into a newly created Google Foundation, officials said."

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