Google’s philanthropic efforts move forward under the umbrella of Google.org, funded by one percent of its profits and equity. Those efforts include the Google Foundation, funded with $90 million; Google Grants, which has already dinated $33 million advertising to NGOs in 10 countries; and support of entities with strong social missions which use market-based solutions for sustanable economic development.”
As explained on the official Google blog by Sheryl Sandberg, VP-global online sales & operations, the one percent of equity comes from 3 million shares of stock that will be donated and invested over 20 years; the one percent of profit will go to Google.org each year and also will be invested. In addition to the foundation funding, which won’t be supplemented “for the foreseeable future,” there’s a commitment of up to $175 million for Google.org over the next three years.
The Google.org site is even more sparse for now than a typical Google page but the bloig entry has some program details.
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