Google.org and the 1/1/1 formula
Stanford Social Innovation Review recently penned a comprehensive piece about Google.org - documenting their ups and downs since launching in 2004.Two passages I found particularly interesting include:
Despite Google.org & Omidyar Networks great efforts - I see an opportunity to innovate in this space. I am working on something now towards that end and will be talking about it shortly!
Google’s three-part approach is similar to the integrated philanthropy model developed a decade ago by Internet software company Salesforce.com Inc. Salesforce.com Foundation applies a 1/1/1 formula to social change, with 1 percent of staff time, 1 percent of equity, and 1 percent of profits going to advance the mission of qualified nonprofits.[Google's] first philanthropic innovation was its structure. Google established Google.org as a unit within the corporation, allowing it to invest in for-profit as well as nonprofit ventures. Under the DotOrg umbrella sat the smaller Google Foundation, a more traditional 501(c)(3) organization. This hybrid structure, unusual for corporate philanthropy, has a parallel in private giving. Omidyar Network, established in 2004 by eBay founder Pierre Omidyar and his wife, Pam, invests in both nonprofits and for-profit enterprises that offer social benefits.
Despite Google.org & Omidyar Networks great efforts - I see an opportunity to innovate in this space. I am working on something now towards that end and will be talking about it shortly!
