updated 02:25 pm EST, Sun March 2, 2014
Ten percent will go to non-profit charities decided by Reddit users
Reddit announced on its blog that it will be donating a portion of its 2014 advertising revenue receipts to non-profit charities at the end of the year. Users will be able to decide which charities receive funding after the company closes out its books.
Reddit says that it will donate 10 percent of the advertising revenue in a process that will be solicit nominations from its users. The top 10 non-profits will receive funding through an election process based on "eligible nominees" to be "disbursed proportionally based on the percentage of votes." According to the post, Reddit wants "to show that advertising doesn't just support the Reddit platform, it also directly supports the causes and goals of Reddit as a whole."
The post humorously calls the giveaway "decimating our ad revenue," and outlines how the company will try to regulate the process and how attempts will be made to keep cheating from occurring. The company says wants to make a real difference in this effort, and will if needed retake control of the project by selecting which charities get the funding if community participation is corrupted. It is stated that only verified 501(c)(3) charities will be eligible.