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who is behind this? Who or what am I donating my hard earned domain to?
Zach Klein: http://www.crunchbase.com/person/zach-klein-3

He's currently teaching a class in SVA. I guess this is a class project of sorts. I think this is a great idea. I myself have a bunch of domains (for now scrapped projects) just sitting around. Might be interesting to see if someone can find a better use for them.

I'd be more likely to donate if I knew more about him, about what he was going to do with them, etc.

90% chance of him doing exactly what I'm doing with a couple of mine - sitting on them, and doing nothing.

...and send me money! And 10 people will send you money! And forward this to 10 of your friends...
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Yeah, I'm sure me owning the CannedGoat.com domain is just killing a small business owner in Manitoba, just dying to sell his fine line of preserved goat meat products.
A clever way for one domain squatter to gain control over several domains owned by other squatters.
I like this idea but would only do it if I could retain some rights to the company!

I mean, I've been nursing the dream for all these years... I can't just let go :)

If it's for a class project, how about lending the domain? The student gets full rights for 1 year, then it goes back to its owner. It's not like most class projects produce lasting value either.
The student can still use it in his portfolio, just not at the original URL.