Largest-Ever YEF Grant Cycle Will Support 110 Organizations Around the World
SUNNYVALE, Calif. — (BUSINESS WIRE) — The Yahoo Employee Foundation (YEF), an employee-funded, philanthropic organization, today announced its largest-ever grant cycle of nearly $4 million. Every year, donations from Yahoo employees, plus interest from investments, are awarded to eligible organizations through YEF grants. YEF is funding 77% of the grant applications it received in 2016, and the funds will benefit 110 nonprofit organizations around the world.
Through YEF, Yahoo employees are able to champion important causes and impact organizations around the world. YEF-funded efforts are focused on three areas: youth and education, family and community building, and environment. Since 2000, YEF has awarded over $25 million through more than 1,200 grants to organizations chosen by Yahoo employees.
“Yahoo employees are making a meaningful, lasting difference in people’s lives through the Yahoo Employee Foundation,” says Emmy Negrin, Program Manager, Yahoo For Good. “We’re honored to award nearly $4 million in grants to organizations around the world, and proud to have engaged donors and nonprofits throughout the process. From volunteering, to running fundraising events, to partnering with charitable organizations, to leading grant cycles, Yahoo employees have generously given their time, talents, and resources to philanthropy.”
Another YEF highlight from this year was the creation of a grant program that aligns diversity and social impact initiatives, empowering employees to reach outside of Yahoo and make a difference in their various communities. Each of Yahoo’s eight employee resource groups were given the opportunity to apply for a grant to support an organization or cause that directly aligned with the group’s passion and focus. YEF reviewed and approved the qualified grant applications, furthering the impact our employee resource groups have outside of Yahoo.
YEF is a unique foundation in that it is entirely employee funded and led by employee volunteers. Since it was created in 1999, with leadership from Yahoo founders David Filo and Jerry Yang, YEF has operated as a legally separate entity from Yahoo, Inc., allowing employees to independently drive the direction of the fund.
About the Yahoo Employee Foundation (YEF)
YEF’s purpose is to facilitate charitable endeavors that benefit those causes deemed most important to Yahoo employees and YEF participants. In furtherance of this purpose, YEF’s primary objectives are to coordinate voluntary charitable activities, to collect funds, and to grant funds to qualified charitable organizations. Additionally, YEF represents the charitable interests of Yahoo donors by serving as their collective voice.
Source: Yahoo, Inc.