June 4, 2009 | Read Time: 1 minute
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.
