Matt Mullenweg, the man responsible for the creation of WordPress, founded WordPress Foundation. WordPress Foundation, a non-profit organization, aims to further the mission of the WordPress open source project, which is to democratize publishing through Open Source, GPL software.
The creation of WordPress Foundation will ensure perpetual free access of all the projects that Matt Mullenweg’s team supports. So to create a stable platform for web publishing for generations, it is important that the source code for these projects survive beyond the current contributors. Matt Mullenweg hopes to realize this through WordPress Foundation.

As part of this mission, the WordPress Foundation will be responsible in the protection of WordPress, WordCamp, and related trademarks. A 501(c)3 non-profit organization, the WordPress Foundation will also pursue a charter to educate the public about WordPress and related open source software.
As of the latest news, WordCamp NYC donated $28,069.25 to WordPress Foundation. This came from a budget surplus after the November 2009 event and was decided that the best way to put the money back into the community would be a donation to the new Foundation. Their donation will help kick things off with a bang!
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