Funding Level increased to $1M

ACM announced on November 13, 2014 that the funding level for the ACM A.M. Turing Award is now $1,000,000, to be provided by Google Inc. The new amount is four times its previous level. 
The cash award, which goes into effect for the 2014 ACM Turing Award to be announced early next year, reflects the escalating impact of computing on daily life through the innovations and technologies it enables. The new level is also intended to raise the Turing Award's visibility as the premier recognition of computer scientists and engineers who have made contributions of lasting and major technical importance to the computing field.
"The Turing Award is now funded at the monetary level of the world's most prestigious cultural and scientific awards and prizes," said ACM President Alexander Wolf. "With the generous support of Google, we can celebrate the mainstream role of computing in transforming the world and the way we communicate, conduct business, and access entertainment. We can also commemorate the pioneering, fundamental contributions of our ACM Turing Award recipients in advancing computing as a science and a profession." Wolf is a professor in the Department of Computing at Imperial College London.
Stuart Feldman, Vice President of Engineering at Google Inc., said, "Google is proud to support ACM's Turing Award. We think it’s important to recognize when people make fundamental contributions in computer science, and we want to help ACM raise awareness of these innovators and the contributions they’ve made to the world."
The 2014 Turing Award will be presented at the ACM Awards Banquet in the spring of 2015.
Read the press release