An inspiring new report from Facebook shows that social media can be used as an invaluable tool for good.

The platform recently announced that their fundraising tool and "Donate" buttons have collectively raised over $1 billion for nonprofits and personal causes since it was launched in 2015.

According to Facebook's newsroom, over 20 million people have utilized the tools by either donating or creating their own fundraiser.

The initiative have been so successful with over 1 million nonprofits across 19 countries receiving direct donations from social media, Facebook says that they will soon be launching the fundraising tools in Australia and Canada.

Additionally, the company plans on celebrating this year's Giving Tuesday by matching up to $7 million in donations for all US-based nonprofit fundraisers happening on Facebook that day.

"We want to celebrate and express our gratitude to the community of people and organizations who have used our tools to support the causes they care about, making a meaningful and lasting impact in their communities," says Naomi Gleit, Facebook's Vice President of Social Good.

"None of this would be possible without people in our community who passionately support and raise awareness for the causes and people they care about," she added. "We can't wait to see the impact we can continue to make together."

Be Sure And Celebrate The Milestone By Sharing It With Your Friends On Social Media