The latest and largest charitable donation by Facebook Co-Founder and CEO Mark Zuckerberg and his wife, Priscilla, will go to an organization a little closer to home, as Zuckerberg posted on his Facebook page that the Silicon Valley Community Foundation will receive 18 million Facebook shares.
When Zuckerberg and the former Priscilla Chan signed on for The Giving Pledge two years ago, their first act was a $100 million donation to the school system in Newark, N.J.
The Silicon Valley Community Foundation’s “Vision, Mission, and Values” page states:
Silicon Valley Community Foundation advances innovative philanthropic solutions to challenging problems, engaging donors to make our region and world a better place for all.
Silicon Valley Community Foundation is a comprehensive center of philanthropy. Through visionary leadership, strategic grant-making, and world-class experiences, we partner with donors to strengthen the common good locally and throughout the world.
Zuckerberg’s post read:
Two years ago, Priscilla and I signed The Giving Pledge, committing to donate the majority of the money we earn to charity.
Our first major project has been around education reform with Startup: Education in Newark, N.J. I’m really proud of the work we’ve done there, helping leaders like Gov. Chris Christie and Mayor Cory Booker sign the most progressive teachers’ contract in our country, opening four new district high schools, 11 new charter schools, and more.
Today, in order to lay the foundation for new projects, we’ve made a contribution of 18 million Facebook shares to the Silicon Valley Community Foundation. Together, we will look for areas in education and health to focus on next. I’m hopeful that we’ll be able to have as positive an impact in our next set of projects.
Silicon Valley Community Foundation CEO Emmett D. Carson said in a comment on the group’s Facebook page:
We are thrilled to be able to partner with Mark and Priscilla on this extraordinary gift. This is a great inspiration for the next generation of philanthropists.