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NancyLebovitz comments on Existential Risk and Public Relations - Less Wrong
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From a less cynical angle, building organizations is hard. If an organization has fulfilled its purpose, or that purpose turns out to be a mistake, it isn't awful to look for something useful for the organization to do rather than dissolving it.
The American charity organization, The March of Dimes was originally created to combat polio. Now they are involved with birth defects and other infant health issues.
Since they are the one case I know of (other than ad hoc disaster relief efforts) in which an organized charity accomplished its mission, I don't begrudge them a few additional decades of corporate existence.