If he wants to not seem evil, make the foundation a nonprofit with a clear goal. Like this, it is a Publicity stunt and tax optimisation scheme which to date has only invested into things which aid Facebook the corporation.

Mind you, the cause might be honourable, and there is nothing evil about enlightened self interest. But since their foundation isn't a nonprofit, this seems not very different to me than if he had created a VC fund.

If I am wrong, I look forward to learning