Google Shows its Charitable Side

Google detailed late Tuesday plans to become a more charitable organization, including the founding of Google.org that would serve as the search giant's philanthropic arm.

The new entity would include the Google Foundation, some of Google's own projects, in addition to becoming the starting point for partnerships and contributions for projects of other non-profit and for-profit organizations.

Google has donated $90 million in cash to the Google Foundation, as well as another $175 million to various other Google.org efforts to signify the search company's commitment to the initiative.

"When we told prospective shareholders about Google and how we wanted to do business, we said that we hoped our philanthropic efforts could some day have a greater impact than Google itself," Sheryl Sandberg, VP of Global Online Sales & Operations at Google said, referring to the 2004 annual report from the company.

In the report, Google founders Sergey Brin and Larry Page committed one percent of the company's profits towards philanthropic works.

The first recipient of Google's generosity will be the Acumen Fund, which received $5 million to find market-based solutions to poverty. Also, the company is working with TechnoServe, which helps start small businesses in the developing world, as well as funding research in Western Kenya to look into how child deaths from poor water quality can be prevented.

Google.org will also control the Google Grants program, which gives free advertising to non-profit groups. Participants include Make-a-Wish Foundation and Doctors Without Borders.

As well as donating one percent of cash profits, Google plans to donate one percent of its stock.

"For the one percent of equity, we have committed one percent of the outstanding shares that resulted from our initial public offering -- 3 million shares. We're going to donate and invest this amount over a period of as much as 20 years," Sandberg said.