When the Goldman Sachs financial group announced it was freeing up to $500 million in stock for its partners and employees to give to their favorite charities, it was obvious the nonprofit world might get a big influx of money.

The bank made good on its word this week by selling 5.57 million shares of its stock on behalf of the charities, and the sale brought in $439 million, Reuters reports.

As previously reported, Goldman Sachs allowed its executives to give away a portion of the millions in stock they held -- as a result of the bank's successful public offering earlier this year -- to their favorite charities. Many execs took advantage of the dispensation to make some nonprofits very happy.

A large number of charities that received the stock opted to let Goldman Sachs sell it for them, which it did at $78.75 a share, Reuters reports.

Some of the nonprofits that received stock included Hamilton College, the Robin Hood Foundation, the Cystic Fibrosis Foundation and several churches and synagogues, Reuters reports.

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