Silicon Valley Community Foundation
|Predecessor||Peninsula Community Foundation and Community Foundation Silicon Valley (merged in 2006, new foundation launched 2007)|
|Founded||January 3, 2007|
|Silicon Valley (San Mateo County, California and Santa Clara County, California)|
The Silicon Valley Community Foundation, headquartered in Mountain View, California, is a nonprofit organization that supports a wide variety of charitable causes in the Silicon Valley region. It works with individual, family and corporate philanthropists to manage their charitable funds, including donor advised funds, corporate advised funds and scholarship funds.
With assets under management of $6.5 billion as of Dec. 31, 2014, SVCF is the largest community foundation in the United States. In 2014, it distributed $476 million in grants to nonprofit organizations in the San Francisco Bay Area, nationally and internationally.
Primarily through advised funds, SVCF made grants to more than 18,000 charities in 2014. Its discretionary grantmaking, funded largely by its endowment, focuses on the following topics:
- Building strong communities
- Economic security
- Community Opportunity Fund to address time-sensitive issues
Early history: 2006–2011
Silicon Valley Community Foundation was formed on July 12, 2006, through the merger of two community foundations in the Bay Area: the Peninsula Community Foundation (headquartered in San Jose, California) and Community Foundation Silicon Valley (headquartered in San Mateo, California). Silicon Valley Community Foundation launched officially on January 3, 2007.
In September 2008, Silicon Valley Community Foundation announced five key grantmaking strategies: Economic Security, Education, Immigrant Integration, Regional Planning and a Community Opportunity Fund to address time-sensitive community needs including safety-net services (2008-2013).
On December 18, 2012, Facebook founder and CEO Mark Zuckerberg and his wife Priscilla Chan announced a donation of 18 million Facebook shares to the Silicon Valley Community Foundation, which at the time of the donation were worth a total of about $500 million.
Silicon Valley Community Foundation raised a total of $985 million in 2012. Assets under management grew to about $2.9 billion, and the foundation awarded a total of $292 million in grants in the year 2012.
In December 2012 SVCF helped relaunch Caltrain's Holiday Train, a nine-year tradition was brought back after a two-year hiatus. The event features a lit "show-train" that runs the first weekend in December and encourages viewers to bring toys to benefit Toys for Tots and Salvation Army.
On December 19, 2013, Zuckerberg announced a donation of 18 million Facebook shares to the Silicon Valley Community Foundation, to be executed by the end of the month—based on Facebook's valuation as of then, the shares totaled $990 million in value. On December 31, 2013, the donation was recognized as the largest charitable gift on public record for 2013.
On October 2, 2014, Nicholas and Jill Woodman, founders of GoPro, a high tech wearable camera company, announced that they would donate $500 million (5,821,739 shares worth at the time about $85 each) to Silicon Valley Community Foundation.
Silicon Valley Community Foundation created and hosted Silicon Valley Gives, the Bay Area's first 24-hour giving day, on May 6, 2014. The giving event was sponsored by John S. and James L. Knight Foundation, Microsoft, NBC Bay Area as well as over 100 other individuals, foundations and companies. The event was hosted on online donation platform Razoo. The event raised $8,000,833 with 14,889 unique donors and more than 21,869 donations. SVCF also hosted more than 20 trainings for more than 650 local nonprofits to help them capacity build leading up to the event. Trainings ranged from how to better utilize Facebook, Twitter and YouTube, how to pitch your story to media outlets to how to thank donors post event.
- Silicon Valley Education Foundation
- Community foundation
- Tulsa Community Foundation
- New York Community Trust
- The Cleveland Foundation
- Chicago Community Trust
- California Community Foundation
- "History". Silicon Valley Community Foundation. Retrieved 2013-04-20.
- "Staff". Silicon Valley Community Foundation. Retrieved 2013-04-20.
- "CF Insights - Home" (PDF). www.cfinsights.org. Retrieved 2016-02-09.
- "2014-15 Financial Report: Investing in the Common Good". flipflashpages.uniflip.com. Retrieved 2016-02-09.
- "Strategic Initiatives". Silicon Valley Community Foundation. Retrieved 2016-02-09.
- "Peninsula Community Foundation, Community Foundation Silicon Valley Complete Merger". Foundation Center. December 14, 2006. Retrieved April 20, 2013.
- "SVCF MOU" (PDF). Silicon Valley Community Foundation. Retrieved April 20, 2013.
- "Silicon Valley Community Foundation to Award $1 Million for Food, Shelter, and Basic Needs". Foundation Center. September 11, 2008. Retrieved April 20, 2013.
- "Mark Zuckerberg's Donation To Silicon Valley Community Foundation Is His Biggest Yet". The Huffington Post. 2012-12-18. Retrieved 2013-04-20.
- "Zuckerberg Plans Large Gift to Charity". The New York Times. December 18, 2012. Retrieved 2013-04-20.
- "Facebook Founder Announces $500 Million to Silicon Valley Community Foundation". Foundation Center. December 20, 2012. Retrieved 2013-04-20.
- Fernandez, Lisa (2012-12-19). "Zuckerberg Donates $500M to Silicon Valley Foundation". NBC Bay Area News. Retrieved 2013-04-20.
- "Silicon Valley Community Foundation Raised $985 Million in 2012". Foundation Center. 2013-01-17. Retrieved 2013-04-20.
- "Press Release - December 10, 2012". Retrieved 12 March 2015.
- Bailey, Brandon (December 19, 2013). "Facebook's Mark Zuckerberg makes $1 billion donation". San Jose Mercury News. Retrieved December 20, 2013.
- "Mark Zuckerberg donates $1bn to charity". The Telegraph. December 19, 2013. Retrieved December 20, 2013.
- Kurt Wagner (3 January 2014). "Zuckerberg's Other Billion-Dollar Idea: 2013's Biggest Charitable Gift". Mashable. Retrieved 3 January 2014.
- "GoPro, Inc Major Holders".
- "GoPro Founders Give $500-Million to Silicon Valley Community Foundation". The Chronicle of Philanthropy. Retrieved 12 March 2015.
- "No. 4: Jan Koum - Philanthropy". Philanthropy.com. 8 February 2015.
- "Pizarro: Silicon Valley Gives raises $7.9 million in 24 hours". Retrieved 12 March 2015.
- "SiliconBeat – Tech industry, others gear up for Silicon Valley Gives, area’s first ‘giving day’". Retrieved 12 March 2015.
- "Pizarro: Nonprofits band together for Silicon Valley Gives crowdfunding effort". Retrieved 12 March 2015.