Updated 1 file via CloudCannon. (#517)

Co-authored-by: Gracie Gregory <[email protected]>

news/q1-2024-recap-from-rebecca-rumbul.md

@@ -31,7 +31,7 @@ In Q1, we accomplished several key financial and legal tasks with oversight from
 
 In addition to transitioning our financial management and reporting systems from Quickbooks to Xero, completing the IRS reporting for our 2023 form 990 submission, and conducting a review of performance against budget for 2023 (summary shared with the board,) we introduced more granular financial reporting and tracking to better reflect how the resources of the Foundation are spent in support of the Project.
 
-In Q1, the Rust Foundation also carried out funding allocation work in response to the generous donations we received in late 2023 from both Google and Microsoft. The Foundation has been in close collaboration over the past three months with our Project Directors to develop a plan for Microsoft’s unrestricted donation of $1M in Q4 of 2023, as $325k has been earmarked to fund Rust Project priorities. We look forward to sharing a blog in the coming weeks with more details.
+In Q1, the Rust Foundation also carried out funding allocation work in response to the generous donations we received in late 2023 from both Google and Microsoft. The Foundation has been in close collaboration over the past three months with our Project Directors to develop a plan for Microsoft’s unrestricted donation of $1M in Q4 of 2023, as $650k (split over two years) has been earmarked to fund Rust Project priorities. We look forward to sharing a blog in the coming weeks with more details.
 
 We ended 2023 with an operating surplus of $139.6k, which has been invested into interest-bearing certificates of deposit on a rolling basis to maximise returns. The rate of surplus accrual will reduce as we hire new team members into the open positions described above.