Level 3 Chairman Transferred 1.75M Shares of Level 3 Common Stock to Suzanne and Walter Scott Foundation
Level 3 Communications (NYSE: LVLT) today announced that Walter Scott, Jr., 82, chairman of the Board of Directors of Level 3 has transferred 1.75 million shares of Level 3 common stock to the Suzanne and Walter Scott Foundation, a charitable foundation under Section 501(c)(3) of the Internal Revenue Code, to support the foundation's philanthropic activities.
The Suzanne and Walter Scott Foundation was established in 1990. For decades, Mr. Scott and his late wife, Suzanne, have been significant philanthropists who have supported a variety of causes and civic institutions especially in the Omaha, Neb. area. As indicated in his 2010 letter to The Giving Pledge, Mr. Scott has been an active and engaged philanthropist, who enjoys actually seeing the results of his family's philanthropic efforts. Suzanne Scott died earlier this fall at age 83.
Through his family foundation, Mr. Scott has focused on two primary causes: giving to young people, whether through youth social services or assisting them to pursue a college education through scholarships; and causes that help improve the community. Mr. Scott has been a benefactor of the Omaha Zoo Foundation, Clarkson Hospital, Ronald McDonald House, Omaha Symphony, Children's Hospital & Medical Center,