How would you feel if a company you owned decided to donate $225 million to charity, thus reducing earnings by $0.21 per share? That's what Freddie Mac
Government-sponsored Freddie Mac, along with its sister company Fannie Mae
The company also operates the Freddie Mac Foundation, which helps support various non-profit organizations such as Wednesday's Child and Healthy Families America. That foundation will receive most of the donation, which is enough to keep it operating for six to eight years. Freddie Mac says the contribution will actually reduce its administrative expenses since it won't have to make regular payments over that period of time.
It warms our hearts to see such generosity and gives us a chance to remind you about our very own Foolanthropy program, which benefits five charitable organizations. These groups help feed hungry Americans, lift people out of poverty, and invest in social entrepreneurs with world-changing ideas. Please, read more about them, and see how easy it is to share a tiny part of your good fortune with others.