Weeks after giving its employees an option to share their newfound stock wealth with nonprofits, Goldman Sachs itself is getting into the business of giving.

The newly-announced Goldman Sachs Foundation is starting with a $200 million contribution from the company, fueled by Goldman Sachs' successful initial public offering of its stock last May.

The foundation's mission will be to improve education worldwide for middle and high school students. It will initially focus on programs to help improve academic performance and lifelong achievement by students.

The foundation will concentrate on a small number of "creative and effective" organizations, help make partnerships possible between the private, public and nonprofit sectors, and support initiatives with measurable results, according to the company.

The foundation plans to make $10 million in grants in its first year, with some grants described as being "sizable."

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