The philanthropic arm of the Coca-Cola Company, the Coca-Cola Foundation, recently announced its second quarter grants - $10.5 million that will be distributed across 41 countries to 68 community organizations that are working to increase sustainability.

"These grants represent our ongoing investment in the sustainability and the well-being of thousands of communities around the world," said Ingrid Saunders Jones, chairperson of The Coca-Cola Foundation. "Our investment is designed to have real impact, by helping local communities with innovative ways to meet global challenges."

The foundation expects these funds will have a widespread impact across communities, providing more than one million people with access to fitness and nutrition programs through $3.2 million in grants, while 1.8 million students will benefit from scholarships and support for sustainability programs made possible by $630,000 in funding.

In addition, this round of grant giving is supplying $3 million for local initiatives, $2.9 million for clean water access and $780,000 for recycling.

Large corporations that participate in more than one grantmaking cycle throughout the year might find it easier to track funds as they are allocated with a fund accounting program.