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I know that Ubuntu receives funding via support, merchandize, hardware company agreements, etc, but many projects out there offer the option to donate directly allowing and supporting further development and releases.

Is that option available for Ubuntu? How can I donate to Ubuntu if that is an option I would like to follow?

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Just before the download link is offered to you on the download page there is a Donate button.

Feel free to donate via PayPal

Donations are made to Canonical Ltd.

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Slide-bars can be adjusted to encourage you to donate cash to areas that particularly interest you.

More information can be found on the fantastic Jono Bacon Blog

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http://www.ubuntu.com/community/get-involved/donate

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