SoftRatty: Mozilla Releases 2007 Financial Results, Proves Its an Arm of Google

This is cache of http://feedproxy.google.com/~r/StartupMeme/~3/zD-_8xHjHXU/. Cache is the snapshot of article that we took when we index feed.
To see original page click here.
We are not affiliated with the authors of this article and not responsible for its content.

Mozilla Releases 2007 Financial Results, Proves Its an Arm of Google

2008-11-20 16:01:20 by Bilal Hameed in Startup Meme

Mozilla has released the financial statements for the year 2007, and to no one’s surprise Google was the biggest donor to the non-profit organization due to Mozilla’s agreement with Google. Apparently Mozilla racked in $66 million of its $75 million from Google, which amounts to 88% of its total revenues. The fact that revenues from Google are even bigger than they were in 2006, when they amounted to 85% and the fact that Google has extended the agreement for three additional years until 2011, are a telling pointer that Mozilla is actually an arm or subsidiary of the search giant.

But with money comes pain, so is the case with Mozilla, as the folks at IRS are now questioning its non-profit status:

In 2005 the Mozilla Foundation established a “tax reserve fund” for a portion of the revenue the Foundation received that year from Google. We did this in case the IRS (the “Internal Revenue Service,” the US national tax agency) decided to review the tax status of these funds. This turns out to have been beneficial, as the IRS has decided to review this issue and the Mozilla Foundation. We are early in the process and do not yet have a good feel for how long this will take or the overall scope of what will be involved.