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The announcement quoted Mr. Saylor as saying that the stock sales "will allow me to fund my previously announced charitable commitment to create a cyberuniversity".
In response, Gov. Edward G. Rendell negotiated an agreement with the plans under which they would make a charitable commitment of $900 million over six years, with 60 percent of the money financing AdultBasic.
As part of a five-year charitable commitment started in 2006, it donates more than $2 million a year to Unicef, whose name is emblazoned across the front of the team's jersey, instead of selling the space to a high-paying corporate sponsor.
Charitable commitment.
FORBES last examined charitable commitment and efficiency ratios in 1991.
Charitable commitment is low even though ABS farms out its printing, a move that usually increases efficiencies.
Similar(30)
He said that the tax forms mentioned in the article "can be misleading," partly because multiyear charitable commitments are reported in the year that they are made.
James J. Mulva, the Phillips chairman and chief executive, said the company would maintain a significant presence in Bartlesville and would keep its charitable commitments.
He said he was stopping a previous plan to periodically sell smaller chunks of his stock to meet his many charitable commitments.
Valerie was a devout Catholic, and her faith defined her journey through life, and inspired her friendships and charitable commitments to the poor and homeless and to other philanthropies.
The fallout has become more apparent in the two weeks since two major philanthropists, Alberto W. Vilar and Ted Turner, disclosed that they would have trouble keeping their charitable commitments, echoing similar revelations by less prominent donors.
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