Skip to main content
Philanthropy Journal Home

Philanthropy Journal News

Shifting gears – Software chief sells stake

 | 

Tim Gill is turning his energy and resources from his pioneering software company to the foundation he started to champion the rights of gays and lesbians.

The Gill Foundation, which Gill formed in 1994, said Gill has sold his share of desktop publisher Quark Inc. and plans to transfer most of his assets to the foundation over the next few years.

Donations from Gill boosted the foundations endowment to $163 million at the end of 1999 from $59 million a year earlier, the foundation said.

As a result, it said, its grantmaking will grow by 35 percent this year.

“You can’t take it with you,” Gill, Quark’s founder, chairman and chief technology officer, reportedly told his staff in a memo, ZDNet News reported Oct. 25.

 “And giving it away has been consuming more and more of my time.”

The foundation’s Web site identifies Gill as “one of two openly gay individuals on the 1997 Forbes 400 list.

He is widely recognized as the programming genius behind QuarkXPress, the firm’s desktop publishing tool.

He founded Quark Inc. in 1981 with a $2,000 loan from his parents.

For full story, go to Gill Foundation and AltaVista.

Leave a Response

Your email address will not be published. All fields are required.