|Amazon.com Names Nonprofit Innovation Award Winner; DonorsChoose Earns Matching Grant from Amazon.com Raising More than $1.5 Million|
SEATTLE--(BUSINESS WIRE)--Oct. 12, 2005--Amazon.com, Inc. (NASDAQ:AMZN) today named DonorsChoose the winner of the Amazon.com Nonprofit Innovation Award. As one of ten finalists for the Nonprofit Innovation Award, DonorsChoose generated more than $790,000 in online donations at Amazon.com. As the winner, DonorsChoose will receive a matching grant from Amazon.com, bringing the organization's total earnings to more than $1.5 million.
Each of the ten finalists will keep the monies raised via Amazon.com's web site. The total amount contributed to the finalists by individuals exceeded $1.66 million.
"DonorsChoose is exactly what we set out to find -- a genuine and practical invention in philanthropy," said Jeff Bezos, founder and CEO of Amazon.com. "Amazon customers voted with their wallets, and contributed more than $790,000 to DonorsChoose -- a gift that we're delighted to match."
Based in New York City, DonorsChoose is a simple way to provide students all across the country with resources often lacking in public schools. At this not-for-profit web site, (www.donorschoose.org) teachers submit project proposals for materials or experiences their students need to learn. These ideas become classroom reality when concerned individuals choose projects to fund.
"We are humbled and thrilled to be named the winner of the Amazon.com Nonprofit Innovation Award," said Charles Best, founder of DonorsChoose. "Our web site connects individual donors to classrooms in need, and with the proceeds earned through the Nonprofit Innovation Award, we'll be able to help tens of thousands of additional students."
The Amazon.com Nonprofit Innovation Award is also enabling DonorsChoose to reach out to public schools along the Gulf Coast region of the United States. By mid-November, classroom needs from regions impacted by Hurricane Katrina will be posted at DonorsChoose.org. "This award makes it possible for contributors to participate in relief efforts in a tangible, transparent way," said Mr. Best.
Amazon.com created the Nonprofit Innovation Award in partnership with the Stanford Graduate School of Business Center for Social Innovation to recognize nonprofits whose innovative approaches most effectively improve their communities or the world at large.
"It's exciting to see this level of support for nonprofits via online contributions," said James A. Phills, Jr., co-director of the Center for Social Innovation at the Stanford Graduate School of Business. "I believe that this award program has made an important contribution by helping our finalists to broaden their base of support, and by raising public awareness of the power and potential of these innovative approaches to solving problems."
About the Nonprofit Innovation Award
Announced in February, 2005, the Amazon.com Nonprofit Innovation Award received almost 1,000 initial award submissions. The 10 finalists address a range of issues, and were selected by a panel of judges that included sports legend and humanitarian, Muhammad Ali; former United States Secretary of State, Dr. Henry Kissinger; Tea Leoni, actress and National Ambassador to the U.S. Fund for UNICEF, Jeff Bradach, managing partner and cofounder of leading U.S. nonprofit consulting firm the Bridgespan Group, James A. Phills, Jr, and Jeff Bezos. Customers contributed to their favorite finalist organization from July 19 through September 30, 2005.
The 10 finalists were:
The Stanford Graduate School of Business developed the Center for Social Innovation to build and strengthen the capacity of individuals and organizations to develop innovative solutions to social problem for a more just, sustainable and healthy world. The Center dissolves traditional sector boundaries by bringing together nonprofit leaders, corporate executives, government officials and philanthropists to discuss, debate, analyze and take action to strengthen communities. The center's core activities -- research, teaching and community engagement -- focus on many thematic areas including corporate social responsibility, social entrepreneurship, environmental sustainability, philanthropy, education, and nonprofit management. www.gsb.stanford.edu/csi/
Amazon.com (Nasdaq:AMZN), a Fortune 500 company based in Seattle, opened on the World Wide Web in July 1995 and today offers Earth's Biggest Selection. Amazon.com seeks to be Earth's most customer-centric company, where customers can find and discover anything they might want to buy online, and endeavors to offer its customers the lowest possible prices. Amazon.com and other sellers offer millions of unique new, refurbished and used items in categories such as health and personal care, jewelry and watches, gourmet food, sports and outdoors, apparel and accessories, books, music, DVDs, electronics and office, toys and baby, and home and garden.
Amazon.com and its affiliates operate seven retail Web sites: www.amazon.com, www.amazon.co.uk, www.amazon.de, www.amazon.fr, www.amazon.co.jp, www.amazon.ca and www.joyo.com.
As used herein, "Amazon.com," "we," "our" and similar terms include Amazon.com, Inc., and its subsidiaries, unless the context indicates otherwise.
Forward Looking Statement
This announcement contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Actual results may differ significantly from management's expectations. These forward-looking statements involve risks and uncertainties that include, among others, risks related to potential future losses, significant amount of indebtedness, competition, management of growth, potential fluctuations in operating results, international expansion, outcomes of legal proceedings and claims, fulfillment center optimization, seasonality, commercial agreements, acquisitions, and strategic transactions, foreign exchange rates, system interruption, consumer trends, inventory, limited operating history, government regulation and taxation, fraud, and new business areas. More information about factors that potentially could affect Amazon.com's financial results is included in Amazon.com's filings with the Securities and Exchange Commission, including its Annual Report on Form 10-K for the year ended December 31, 2004, and all subsequent filings.
CONTACT: MWW Group for Amazon.com