Rust Financials
The Rust foundation released their financials about a week ago.
TL;DR - It looks like a dumpster fire.
2023 Saw the Rust foundation grow again, with a result that they ran at an operating loss of $524k for this year, compared to making $887k profit the year before.
2023 included a drop in income, from $2.9m down to $2.6m
Expenses jumped from $2m for the previous year up to $3m for this year !
All Google is doing here is throwing the Rust foundation some google small change to so they can continue to "grow" whilst still being able to keep the power on. Putting $1 million into their account will only just cover the losses they are making, and will not provide enough extra capital to pay for even a handful of developer hours.
I seriously doubt that anyone at Google (or the Rust foundation) thinks this donation will amount to anything other than a bit of publicity.
Where is all the money going ?
Most of it got spent on "membership fees" of which a portion ends up going back into Google and Microsoft's pocket eventually. $1.5million on membership fees
The amount they spend on things like working on documentation, updating the spec etc is shockingly small. ($28k)
The Rust foundation managed to happily burn its way through over $3million .. whilst being able to hire only 3 new full-time developers.
They also received nearly $2 million of free infrastructure services, and yet still managed to blow an extra $400k on infrastructure costs out of pocket.