The Silicon Valley Community Foundation in Mountain View, California, has announced that it awarded grants totaling $1.3 billion in 2016, benefiting thousands of people and causes in the Bay Area, across the United States, and around the world.
SVCF made more than a hundred and eight thousand grants in 2016, including those awarded by individuals, families, and companies through advised funds and grants awarded through corporate matching gift programs. Overall, the foundation, the largest single grantmaker to charities in the region, awarded $840 million to nonprofits in the nine counties comprising the San Francisco Bay Area and an additional $15 million to charities in sixty-five countries, with corporate-advised funds accounting for $49.7 million in grants.
The foundation also announced that it received $1.38 billion in new gifts from individual and corporate donors in 2016, boosting its charitable assets to approximately $8.2 billion.
"Silicon Valley Community Foundation celebrates our tenth anniversary this year, and we are thrilled and humbled that 2016 marks the first time we have made more than $1 billion in grants in a single year," said SVCF president and CEO Emmett D. Carson. "Over the last ten years, SVCF has granted $4.3 billion in grants to nonprofit organizations."