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Google.org, a For-Profit Charity 355

Posted by kdawson
from the for-the-greater-good dept.
Google has set up a subsidiary, Google.org, a for-profit philanthropy with initial capital of a billion dollars. Not being organized on a tax-free basis carries both advantages and drawbacks. From the article: "Unlike most charities, this one will be for-profit, allowing it to fund start-up companies, form partnerships with venture capitalists and even lobby Congress. It will also pay taxes." One of Google.org's first projects is the development of a plug-in hybrid vehicle that achieves a mileage rating equivalent to 100 MPG.
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Google.org, a For-Profit Charity

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