Co-founder of Facebook, Mark Zuckerberg, and his wife, Priscilla Chan, who is a pediatrician, donated $992 million to Planned Parenthood. According to the report on Monday, by The Chronicle of Philanthropy, Zuckerberg and Chan was #1 in charitable giving.
This generous donation was distributed in 2013 with 18 million shares of Facebook stock to the Silicon Valley Community Foundation (SVCP) in Mountain View, California. The philanthropist couple donated to this foundation in 2012 also.
“A copy of their 2012 Public Disclosure is available for online viewing. The disclosure reports that the SVCP donated over $480,000 to Planned Parenthood in 2012 alone. The donations benefited Planned Parenthoods in multiple cities: San Antonio TX; New York, NY; San Jose, CA; Jacksonville, FL; and Burlington, VT. The donations ranged in amounts from $5,000 to $361,750,” according to Life News.
SVCP has an established partnership with donors that distribute funds to various organizations around the world. The term “collaborative” or the description “comprehensive center of philanthropy” is the words that SVCP used to classify their approach to the foundation structure. The foundation typically channels the money to specific organizations conferring to the demands of the donor.
Zuckerberg and Chan have previously expressed their concern for education and health, but the foundation officials were not able to disclose donor specifics.
The stock market gains and recovery cultivated the surge in giving among wealthy individuals according to Chronicle’s editor Stacy Palmer. The Chronicle counted $6.2 billion in giving for 2013, doubling the living donor’s contributions in 2012.
“I expect we’ll see more of that in coming years,” Palmer said.
At the age of 29 years old, philanthropist couple, Zuckerberg and Chan is leading the way to placing action around changing America.
The markets closed on Thursday with the Facebook stock standing steady at $67.33 a share, supporting the claim that the consistent market has influenced current trends in charitable giving.
Source:
http://www.mercurynews.com
http://samuel-warde.com/2014/02/zuckerberg-donates-992-million-charity-funds-planned-parenthood/
