George E. Pataki
PER
George E. Pataki Pataki
Gov. George E. Pataki is proposing that more than half of the foundation's $260 million endowment be redirected into biomedical research and his plan to use that amount, $160 million, held by the fledgling New York Charitable Asset Foundation, has the support of the state's other top Republican, Joseph L. Bruno, the majority leader in the State Senate. George E. Pataki is proposing that more than half of the foundation's $260 million endowments be redirected into biomedical research. Mr. Pataki's budget appropriates $40 million in state money and uses $160 million from the charitable foundation's endowment, with the remaining $600 million coming from matching funds from the federal government, grants, and the private sector. A joint press release from Mr. Pataki and Mr. Bruno last month explained that because the windfall profits from the conversion of Empire, were higher than expected, the foundation's 5 percent share exceeded what had been envisioned.