Gates Foundation Generous in a Tough Fundraising Environment

Gates Foundation Generous

While unable to give what they initially expected, a recent article in The Wall Street Journal notes that Gates Foundation officials project 2009 grants to be 10% larger. New executive director Jeff Raikes, comments on the economy on the Gates Foundation website, click here.

Recent giving from the Foundation has been in the $3 billion range, which is higher than the 5% minimum distribution required by law.

In addition, the Gates Foundation must distribute all of an annual 10 million shares of Berkshire Hathaway stock given by Warren Buffet each year. The most recent installment of $1.6 billion came in July 2008.

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