As part of a continuing investigation of the topological control of intramolecular electron transfer (ET) in donor-acceptor systems, a symmetrical parachute-shaped octaethylporphyrin-fullerene dyad has been synthesized. A symmetrical strap, attached to ortho positions of phenyl groups at opposing meso positions of the porphyrin, was linked to [60]-fullerene in the final step of the synthesis. The dyad structures were confirmed by H-1, C-13, and He-3 NMR, and MALDI-TOF mass spectra. The free-base and Zn-containing dyads were subjected to extensive spectroscopic, electrochemical and photophysical studies. UV-vis spectra of the dyads are superimposable on the sum of the spectra of appropriate model systems, indicating that there is no significant ground-state electronic interaction between the component chromophores. Molecular modeling studies reveal that the lowest energy conformation of the dyad is not the C-2v symmetrical structure, but rather one in which the porphyrin moves over to the side of the fullerene sphere, bringing the two pi-systems into close proximity, which enhances van der Waals attractive forces. To account for the NMR data, it is proposed that the dyad is conformationally mobile at room temperature, with the porphyrin swinging back and forth from one side of the fullerene to the other. The extensive fluorescence quenching in both the free base and Zn dyads is associated with an extremely rapid photoinduced electron-transfer process, k(ET) approximate to 10(11) s(-1), generating porphyrin radical cations and C-60 radical anions, detected by transient absorption spectroscopy. Back electron transfer (BET) is slower than charge separation by up to 2 orders of magnitude in these systems. The BET rate is slower in nonpolar than in polar solvents, indicating that BET occurs in the Marcus inverted region, where the rate decreases as the thermodynamic driving force for BET increases. Transient absorption and singlet molecular oxygen sensitization data show that fullerene triplets are formed only with the free base dyad in toluene, where triplet formation from the charge-separated state is competitive with decay to the ground state. The photophysical properties of the P-C-60 dyads with parachute topology are very similar to those of structurally related rigid pi-stacked P-C-60 dyads, with the exception that there is no detectable charge-transfer absorption in the parachute systems, attributed to their conformational flexibility. It is concluded that charge separation in these hybrid systems occurs through space in unsymmetrical conformations, where the center-to-center distance between the component pi-systems is minimized. Analysis of the BET data using Marcus theory gives reorganization energies for these systems between 0.6 and 0.8 eV and electronic coupling matrix elements between 4.8 and 5.6 cm(-1).