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Article: Net assets of Chuck Feeney charity decline by $1.2bn

Article from:
The Irish Times
Article date:
September 24, 2009
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THE VALUE of the assets held by Irish-American Chuck Feeney's charity fell by $1.2 billion ([euro]814 million) between 2007 and 2008, according to the organisation's own figures.

Combined financial statements for 2007 and 2008 for Atlantic Philanthropies show that the value of its net assets fell to $2.3 billion at the end of last year from $3.5 billion 12 months earlier.

Atlantic Philanthropies is a collection of inter-related charitable organisations created by billionaire Chuck Feeney, an Irish-American who made his original fortune from a chain of duty- free shops.

The group has branches around the world, including in this country, where it has made donations to charities on both sides ...

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