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June 04, 2009

Gates Foundation Raises $10-Million in Unsolicited Gifts

Bill Gates: software mogul, philanthropist, fund raiser?

While the Bill & Melinda Gates Foundation is set up to give money to charity, it also seems to be pretty good at raising money. Last year it raised $10.4-million — without even asking for it.

According to its annual report, which was released this week, the Seattle foundation received that amount from donors other than the Gateses or Warren E. Buffett.

Since Mr. Buffett announced his plans to give most of his fortune to the Gates fund in 2006, Americans have tried to give to the foundation. Even though the foundation strongly encourages people to give directly to the charitable groups it supports, the size of the gifts are growing. In 2007 the foundation received $1.6-million in such unsolicited contributions.

On its Web site, the foundation lays out stringent guidelines for gifts it reluctantly accepts. It accepts only donations from individuals and gifts that are unrestricted in their use; it does not allow fund-raising events to be held in its name; and it does not take contributions of real estate, intellectual property, or securities.

The guidelines also emphasize that the foundation never asks for money; if anyone receives an e-mail solicitation purporting to be from the Gates foundation, it’s a scam.

— Ian Wilhelm

Thursday June 4, 2009 | Permalink

Comments

1. Do new donors to the Gates Foundation get a seat on the Board like donor Warren Buffett? Then the Foundation might become more accountable …

   — Gates Keepers    Jun 5, 02:04 PM    #

2. That’s a fairly ridiculous question. Buffet’s donation is exponentially larger than all of these other gifts combined, and will cause a significant and permanent impact on the foundation. While $10.4 million is a lot of money, it pales in comparison to the size of Buffet’s contribution.

   I can respect your work, and am grateful that we have such active watchdogs in our sector. Your continual oversight of the Gates Foundation likely has been a positive influence on their work and the work of others who look to them as a model.

   But this question above brings your noble task down to the level of a kneejerk reactionary, which I have not known your group to be (though I have not always agreed with you). Do not become someone who is just going to blast the Foundation for every step they make. They are a human institution, and will therefore fail often and mightily. However, they deserve more credit for being accountable than your question offers them.

   — Jeremy Gregg    Jun 7, 05:24 PM    #

3. Ouch, Jeremy! It was a serious questions asked in a flippant way. How much does one have to give to buy a seat on the Board?

   — Gates Keepers    Jun 9, 07:00 PM    #

Commenting is closed for this article.

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