Biopharmaceutical company Gilead Sciences has announced an endowment gift of more than $200 million to the Gilead Foundation.

Established in 2005, the foundation now operates three core programs: the Creating Possible Fund, charitable donations to local community organizations, and a donation matching program for employees. A new initiative, the Creating Possible Fund will award grants to organizations working to build a more just society with a focus on health justice and support innovative approaches to complex social issues, especially those that impact the most underserved communities, including people of color and LGBTQ+ youth. Additional details about the fund will be announced later this year.

The charitable donations program supports social service programs, including disaster and humanitarian relief efforts, in communities where Gilead employees live and work. The employee donation matching program will increase the annual match for donations made by Gilead employees to eligible nonprofit organizations to $15,000.

"Giving back to charitable organizations in the communities in which we live and work has helped define Gilead as a company," said Keeley Wettan, Gilead Foundation board chair and Gilead Sciences' senior vice president, legal. "Gilead's employees work hard every day to bring new possibilities to millions of people around the world, and we are proud that the Gilead Foundation will be able to create new possibilities for organizations that are doing the same.

(Photo credit: GettyImages/Drazen Zigic)