Project 100 is a joint effort between nonprofits GiveDirectly, Propel and Stand for Children, and has raised nearly $84 million since April.
It aims to raise $100 million in order to provide cash gifts to 100,000 American families.
Other donors to Project 100 include Alphabet and Google CEO Sundar Pichai, billionaires Steve Ballmer, Bill Gates, Sergey Brin and MacKenzie Bezos.
Dorsey also donated $10 million this month to help prisons in the US fight the ongoing COVID-19 pandemic.
The donation was given to criminal justice advocacy group REFORM Alliance that would buy 10 million face masks and personal protective equipment (PPEs) for prisoners and other employees.
“$10mm to @REFORM Alliance to get PPE to every prison and jail in America, all towards their mission of reforming the criminal justice system,” Dorsey tweeted.
The funds come from Dorsey’s #startsmall initiative, which has $1 billion in total, given by Dorsey in April using equity from his mobile payment company Square.
So far, Dorsey who has a net worth at $4.8 billion, has distributed $85 million worth of Square stock to more than 50 nonprofits since April.