EBay Co-Founder Adds $20 Million to Skoll Community Fund Endowment

Jeff Skoll, co-founder of online auction house eBay, has announced a donation of $20 million to the Skoll Community Fund at the Community Foundation Silicon Valley in San Jose, California.

The gift brings the Skoll Community Fund's total endowment to $125 million, making it the largest supporting foundation of CFSV, which helps manage and administer the Fund. Skoll created the Fund in 1999 to support local, national, and international nonprofit organizations whose work is based on empowering communities. The Fund awards grants in the areas of micro-enterprise and economic development, learning and education, technology, and philanthropy.

"The Skoll Community Fund is entrepreneurial and focused in its grantmaking," said CFSV president Peter Hero. "Jeff's most recent gift continues his generous tradition of investing in community-building in a strategic and thoughtful way."

In October, Skoll played a lead role in creating the Urgency Fund at CFSV, which helped Silicon Valley nonprofits respond to increased demand for their services even as they faced declines in charitable donations and government funding due to the slowing economy. The Skoll Community Fund provided $2.5 million to the Urgency Fund, and Skoll personally helped raise another $500,000 for agencies that provide food, clothing, shelter, and health care.

"Skoll Donates $20 Million to Foundation at CFSV; Endowment of Skoll Community Fund Tops $125 Million" Community Foundation Silicon Valley Press Release 05/14/2002.