$19 Million Pledged for Newark Charter School Fund

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Last week, four national foundations (the Bill & Melinda Gates Foundation, Donald & Doris Fisher Fund, Robertson Foundation and the Walton Family Foundation) each pledged $4 million in an effort to support and strengthen Newark's 12 public charter schools through a new foundation, the Newark Charter School Fund. In addition, three Newark foundations each pledged $1 million, bringing the Fund closer to its ambitious goal of raising $25 million for the city's public charters. Education has been a focus of Mayor Cory Booker's administration and he was given much of the credit for inspiring the groups to start up the fund. Newark should have a "portfolio of excellent options to best meet the needs of kids," which means there should be excellent charter, magnet and traditional public schools, Booker said. "In a city where our schools need improvement we need to be willing to embrace change and innovation," he said. "We can't keep doing things the same way over and over again and expect different results." Fund staff member, Jim Shelton, said having one organization will make it easier for public charter schools to request aid. "It's a smart thing to do, and we wanted to find a good place to do that work and Newark stood out because of the quality of schools, the need and the leadership of the mayor," Shelton said.

Source: New Jersey Star-Ledger
Date: 04/25/2008
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