AOL, Yahoo and Cisco set up online charity network

AOL, Yahoo and Cisco Systems announced they are combining their Internet and technologies to make it easier for people to reliably donate money electronically to a wide range of charitable causes. The money will be channeled through the "Network for Good" website.

Besides a one-stop facility for donating money to legitimate charities, the site will also serve as a source of information for people interested in volunteer work involved in the services performed by charities.

Executives for the three companies said the need for the new online service became evident in the aftermath of the enormous out-pouring of charity following of the 11 September terrorist attacks, resulting in some $1.5 billion raised to help the victims of the attacks. More than $100 million were raised online.

"The goal here is for us to put a rocket boosters behind the great activity happening out there on the Internet and for nonprofits," said David Eisner, Senior Vice President at AOL Time Warner Foundation.

"The Internet allowed people to turn intention into action relatively quickly and easily. We've seen the number of people engaged in philanthropy online increase dramatically," said Chris Sinton, President and Chief Executive of Network for Good.

"September 11, sadly, is going to be a watershed event for the Internet, because the Internet was so powerful in people's lives during and after it," said Murray Gaylord, Vice President of brand marketing at Yahoo.

"Everyone was surprised that so many people came to the Internet and Yahoo to donate money."

Gaylord said that President Bush added tremendous legitimacy to the Internet as a fund-raising medium when he mentioned a URL during one of his key speeches following the attacks.

The work for Network of Good participants also hope the website will help reduce the chance people end up giving money to scam artists setting up organizations that pose as non-profit charitable groups. Said Gaylord, "This is an attempt to build a broad-based coalition of Internet companies to allow all the nonprofits some exposure on the Internet and allow consumers an opportunity to go to the Internet and find what they are looking for. It's all in one place and you can find whatever you are looking for and know it will be a legitimate organization."