Facebook for Funding

Facebook: It is not just for snooping anymore.

The Chase Community Giving Summer 2010 program was recently launched on Facebook to award more than $5 million to two hundred local charities chosen by users of the social networking site.

Voting began June 15 and focuses on eligible small and local 501(c)(3) public nonprofits with operating expenses of $1 million or less.  The eligible charity with the most votes receives $250,000 and the top four runners-up receive $100,000 each. Remaining eligible charities in the top two hundred each receive $20,000.

It is the second time Chase has used Facebook users to help select organizations to fund through its corporate philanthropy program, though this second round adds a few new features.

Charities can edit their Chase Community Giving profiles and use video and photos to tell their stories. Chase also introduced badges, which users earn through becoming fans and casting votes for charities they support. Also, the new Gift Vote feature allows users to earn additional votes to give to friends.

Check it out on Facebook.



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