May 20, 1999

California United Way Dismisses CEO Amid Charges of Financial Wrongdoing

By HOLLY HALL and MEG SOMMERFELD

Though located in the heart of wealthy Silicon Valley, the United Way of Santa Clara County is on the verge of financial collapse after spending virtually all of its reserve fund and giving more money to charities over the past five years than it had raised.

Government and philanthropic organizations in the Silicon Valley area are rushing to find ways to help local charities avoid a financial meltdown now that the local

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