Google is launching a corporate philanthropy campaign through Google.org to focus on “several areas including global poverty alleviation, energy and the environment”.


Google is launching a corporate philanthropy campaign through Google.org. Google has committed one percent of profit for this mission.

“Our first step in meeting these commitments includes a $90 million cash donation to the Google Foundation and a commitment of up to $175 million over three years across our other Google.org efforts”. [source]

“While we continue to define the goals, priorities and approach for Google.org, we will focus on several areas including global poverty alleviation, energy and the environment.” [source]

Google says that it has already made some initial commitments that include:

Google’s partnership with Acumen Fund, a non-profit venture fund that supports the development of goods and services for the 4 billion people in the world who live on less than $4 a day.

Google’s work with TechnoServe in launching a Business Plan Competition and an Entrepreneurship Development Program in Ghana.

Google’s plans to support research in western Kenya related to rural water supply.

In addition, Google also has announced a Google Grants program that has so far donated $33 million in advertising to over 850 non-profit organizations in 10 countries.

Google Blog says, “While the results we get are more important than the amount of money we give, we want to be clear about how we’re going to keep our “one percent” commitments. There are two parts: equity and profit.

For the one percent of equity, we have committed one percent of the outstanding shares that resulted from our initial public offering, 3 million shares. We’re going to donate and invest this amount over a period of as much as 20 years. Because it is based on stock, the dollar value of this commitment will rise and fall with our stock price.

We’ll follow through on the other commitment, one percent of profit, by taking one percent of each year’s profits and donating and investing that too”. [Text]

In the 2004 Annual Report of Google, Sergey Brin & Larry Page have said, “We hope that someday this institution will eclipse Google itself in overall world impact by ambitiously applying innovation and significant resources to the largest of the world’s problems”.

To read the Annual Report click here.

This report is in Pdf format. You will need Adobe Acrobat to read this report. To download a free acrobat reader click here.

 

 

 

 

Sharing is caring