Google.org, a for-profit charity

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.

Source: News.com