The Silicon Valley Community Foundation has announced that it awarded grants totaling $823 million in 2015, a 73 percent increase from the $474 million awarded in 2014.
Including grants awarded by families, individuals, and company-advised funds, the largest community foundation in the United States awarded a hundred and twenty-two thousand grants over the course of the year. Of the $823 million in grants awarded, $358 million was distributed to nonprofit organizations in the nine counties of the San Francisco Bay Area, making SVCF the largest single grantmaker to the region's charities. The foundation also awarded grants totaling $21 million to charities in sixty-three countries.
During 2015, SVCF's other activities included sponsorship of a bill in the California Legislature, the California Mathematics Placement Act (SB 359); hosting Silicon Valley Gives, which raised nearly $8 million for local nonprofits; and, in partnership with the County of San Mateo and the San Mateo County Office of Education, launching The Big Lift, an initiative to improve low-income children's reading skills, in four school districts.
The foundation also reported it received $1.2 billion in contributions from individual and corporate donors in 2015, bringing its charitable assets under management to approximately $7.3 billion.
"Through the generosity and vision of our donors, SVCF supported literally thousands of nonprofit organizations in the Bay Area, around the United States, and internationally last year," said Emmett D. Carson, the foundation's CEO. "We are proud to work with our individual, family, and corporate donors to help them make a difference to the causes they care about most, and are hopeful that the year ahead will bring more chances for us to help expand the world of philanthropy. From education to immigration to housing and other issues, there is always more to be done."