Nominet UK, the organisation responsible for managing and maintaining the register of .uk domain names has announced that it is to launch the Nominet Foundation. Nominet, which operates as a not for profit organisation has been generating a profit since 2003. As a not for profit organisation, its constitution forbids it from distributing surplus funds to members in the manner of a commercial company paying dividends. As a consequence, it will create the Nominet Foundation as a means of distributing its profits. The Nominet Foundation will be a charitable organisation that will fund education, research and development initiatives in the UK Internet industry. Areas that are likely to be of interest to the Foundation are online safety for children as well as community projects to increase internet access and use. The Foundation is also likely to fund projects that use the internet for training and education. The Foundation will aim to launch in the Summer 2008 with a first year fund of £5 million. Organisations will be invited to apply for funding later in 2008.http://www.nominet.org.uk/news/latest/?contentId=4709