Goldman Sachs Considers Charity Requirement

The investment bank Goldman Sachs is considering broadening a requirement for top executives and managers to donate a portion of their earnings to charity. The financial house, which is expected to report record profits for 2009, has spent months exploring philanthropic avenues to damp down likely public criticism as it pays out billions of dollars worth of bonuses. Goldman has already doubled the size of its charitable foundation and announced a $500-million effort to help small businesses.
Full text article by Louise Story is available via The New York Times, 1/10/10.

Billionaire Aids Charity That Aided Him

Sergey Brin, the Russian-born co-founder of Google, has donated $1-million to the Jewish organization most responsible for his childhood immigration to the United States. The gift to the Hebrew Immigrant Aid Society was the largest of several Mr. Brin gave to groups that assisted his family’s move from the Soviet Union 30 years ago, when he was 6. The aid society helped the Brins apply for visas, paid for transport, and gave them money as they moved from Russia to Paris to Maryland. “I would have never had the kinds of opportunities I’ve had here in the Soviet Union, or even in Russia today,” said Mr. Brin, who in recent months has publicly discussed giving away more of his estimated $16-billion fortune. “I would like to see anyone be able to achieve their dreams, and that’s what this organization does.”

Full-text post by Stephanie Strom is available via The New York Times, 10/24/09.

Corzine reveals donations by his foundation

Under pressure from his Republican challenger, New Jersey Gov. Jon Corzine has released details of his charitable foundation’s giving for the past year. The more than $3-million in donations benefited community organizations, African-American churches, cultural groups, and foundations, some with ties to New Jersey power brokers and to the head of the state’s Black Ministers Council, who last week endorsed the incumbent Democrat. Republican candidate Chris Christie pressed Mr. Corzine to release the records, claiming that much of Corzine’s philanthropy is politically motivated. The Corzine campaign had originally planned to make the foundation records public after the election.

Full-text post by Chris Megerian is available via The Star-Ledger, 10/22/09.

Schmidt ’76 donates $25 million for technology fund

Google’s chief executive, Eric Schmidt, has committed $25-million to establish a technology-innovation fund at his alma mater, Princeton University. The Eric and Wendy Schmidt Transformative Technology Fund will primarily provide support to professors to research new technologies or acquire innovative equipment that could have a major impact on the development of a particular field.

Full-text post by Andrew Sartorius is available via The Daily Princetonian, 10/14/09.

Private Donations to Colleges Increase for 4th Consecutive Year

Backed by a strong economy and a growing stock market, American colleges and universities raised an estimated $29.8-billion in the 2007 fiscal year, the highest total ever recorded, according to a report scheduled for release today by the Council for Aid to Education.But the country's recent economic troubles have some fund-raising experts concerned that the high times might be coming to an end.

Full-text article by Brad Wolverton is available via The Chronicle of Higher Education, 2.20.08. [Subscription required.]

The report is available for purchase via the Council for Aid to Education.