Is the U.S. Treasury Secretary Giving Away His $800-Million Fortune?

Environmental charities probably celebrated last week when news leaked out that U.S. Treasury Secretary Henry M. Paulson, a long-time supporter of conservation programs, had plans to contribute almost his entire fortune to charitable causes.

An article in Financial News, an online news service, reported that Mr. Paulson planned to contribute $800-million, making him one of the most-generous donors in the nation.

The article said his philanthropic fund, the Bobolink Foundation, was the likely beneficiary.

In addition, the article said that in March he gave millions of dollars to the philanthropy.

But virtually no one wants to talk about the gift — or confirm Mr. Paulson’s plans — and little information is available on public documents maintained by the Internal Revenue Service, the agency Mr. Paulson oversees in his government job.

Treasury Department officials refused to discuss the Financial News article, or say whether it was accurate. The article did not name any of the sources of the report.

“We do not have a comment on this,” Brookly McLaughlin, a Treasury spokeswoman, said in an e-mail message to The Chronicle.

At a time when Congress has been putting pressure on charities and foundations to disclose more information, it seems unusual that the Bobolink Foundation is almost as hard to find as the rare bird it takes its name from.

According to telephone directory assistance, no listing exists or is publicly available for the foundation in New York, where it is supposed to be based, or in Illinois, where it was originally established in 1985.

An Internet search for the foundation’s name led to a Web page with only a flashing construction sign on a black background. “Welcome to bobolink.org. This site is currently under construction. Please visit us again,” it says.

The foundation’s tax form from 2004, the most recent year available on Guidestar, lists the organization’s accountant, but calls to the New York telephone number listed on the form went unanswered.

The tax return did list the Ayco Company, a Goldman Sachs subsidiary in Albany, N.Y., as the fund’s home.

However, an Ayco spokesman said he had not heard of Bobolink and was not allowed to say whether Mr. Paulson was a client.

A few details were available from another federal agency outside of Mr. Paulson’s purview. According to a March 30 U.S. Securities and Exchange Commission filing, Mr. Paulson transferred 637,500 shares of Goldman Sachs stock, worth almost $100-million at the time, to an unnamed beneficiary.

If it is the Bobolink Foundation he financed with that money, data from the Foundation Center suggests the money will support environmental groups, universities, and the Church of Christ, Scientist, of which Mr. Paulson is a member.

Maria Di Mento contributed to this article.