Warren Buffett Foundation
The Warren Buffett Foundation was created by Warren Buffett as his management center for distribution of his charitable donations. When Warren Buffett’s wife Susan died in 2004 the foundation was renamed the Susan Thompson Buffett Foundation.
Some of the organizations the foundation has helped are Planned Parenthood. In 1999 close to $3.8 million dollars was donated to this organization. The International Projects Assistance Services based out of Charlotte North Carolina is another feminist cause helped by the foundation. In 1999 $2.5 million dollars was donated. This contribution was followed by $20 million dollars in donations given to the company over a five year period. This company makes manufactures and distributes a hand-held suction pump designed to bring on abortion.
The foundation reached $4 billion dollars in assets by 2008. In 2007 the foundation created Omaha’s Building Bright Futures. This funding gave low-income students the ability to attend college. By 2008 over $2.4 million dollars have been donated to the scholarship receipts.
In June 2006 Buffett announced he would donate 85% of his wealth to the Bill and Melinda Gates Foundation. As part of his agreement to give the bulk of his wealth to the Gates Foundation a bequest of $3 billion dollars is to go Susan Thompson Buffett Foundation. This request is to spread out over a span of many years. One of the reasons Buffett chose to put the bulk of his estate in the Gates Foundation was because the operation was already in place and after looking into the Gates Foundation came to admire the operation.
Source of Wealth
The majority of Buffett’s charitable giving comes from his personal holdings in Berkshire Hathaway. Warren Buffett is the chief executive officer of this brokerage firm. Buffett has a 40% controlling interest in the company since it’s inception in the early sixties.