eBay has acquired MissionFish – the technology and team that powers the eBay Giving Works program – from the Points of Light Institute.

Since 2003, MissionFish has provided eBay with the back-end tech to power the eBay Giving Works program in the US (they’ve powered eBay for Charity – the same program in the UK – since 2005). Since becoming an eBay partner in 2003, MissionFish has helped raise some $250 million in the U.S. and the UK by connecting customers with nonprofit causes.

Donations were up 7% in 2010, according to eBay, raising a total $54.8 million in the U.S. and the UK for the year. Approximately one donation is made every 24 seconds through eBay Giving Works, raising $91 every minute, with $4.01 being the average amount donated.

The company raises funds by allowing sellers on eBay to donate some of the proceeds from their sales to a nonprofit of their choice, while nonprofits can raise funds by selling directly on eBay as well.

eBay will begin the process of creating a separate nonprofit organization that will eventually be directly responsible for the collection and distribution of funds.