November 28, 2006
The Goldman Sachs Foundation Awards $9.4 Million in Grants to Promote Academic Excellence, Math and Science Enrichment, and Capital Markets Education
The Goldman Sachs Foundation today announced $9.4 million in grants to programs designed to further the Foundation's commitment to support the academic and leadership development of promising young people around the world. The new grants include programs aimed at improving access to selective colleges and universities for academically promising students from underrepresented and disadvantaged backgrounds, promoting high-quality math and science education, encouraging understanding of capital markets and capital formation among students and teachers, and advancing academic achievement of young people in emerging countries.
"The Goldman Sachs Foundation is committed to supporting the development of the next generation of leaders from all parts of the world," said Stephanie Bell-Rose, President of The Goldman Sachs Foundation and a Managing Director of Goldman, Sachs & Co. "We are proud to collaborate with several outstanding nonprofit organizations and world-class colleges and universities to accomplish this goal."The grants announced today will benefit young people in several parts of the world. In Europe, the following grants have been made:
$1,500,000 to the University of Manchester, the University of Birmingham and the University of Nottingham to replicate the Masterclass program, which prepares talented secondary school students from disadvantaged urban backgrounds to enroll and succeed at top universities across the UK.
$1,000,000 to Teach First to help increase and measure the impact of its teachers on student achievement by strengthening the quality and range of professional development opportunities, and supporting the national expansion of Teach First's London-based program.
$50,000 to the Association pour la Promotion des Talents to support high-potential youth from disadvantaged backgrounds in France achieve long-term academic and professional success.
In South Asia, the Foundation has made the following grants:
$1,400,000 to the Asian University for Women to launch the Bangladesh-based university's Access Program, which identifies and prepares high-potential secondary school graduates from across Asia to succeed at AUW and beyond.
$1,200,000 to the Global Fund for Children to support the most innovative community-based initiatives that develop the entrepreneurship, leadership and academic skills of young people in Mumbai, Bangalore and other areas across India.
$1,050,000 to Room to Read to expand its operations and increase its effectiveness across India by establishing 450 libraries with highly trained staff in under-resourced schools, and strengthening Room to Read's monitoring and evaluation program to more effectively measure the impact of its work on student literacy rates and academic performance.
The Foundation has also expanded the Goldman Sachs Global Leaders Program to additional Universities across China and India with a grant of $725,000 to the Institute of International Education which administers the program. The Goldman Sachs Global Leaders Program recognizes and supports the leadership potential and accomplishments of outstanding second-year university students from over 85 of the world's top institutions of higher learning.
In addition to these international grants, the Foundation has also made three grants to expand its efforts to improve access to top colleges and universities for students from underrepresented backgrounds in the United States. Grants include:
$500,000 to the University of Southern California for its Center for Higher Education Policy Analysis (CHEPA) to replicate its college access pilot program in five of Los Angeles' poorest inner-city schools. CHEPA's college access program aims to increase the number of underrepresented students gaining admission to and succeeding at selective colleges and universities.
$250,000 to Columbia University to support its Double Discovery Center, which prepares academically promising students from underrepresented backgrounds to gain admission to and succeed at selective colleges and universities.
$125,000 to Washington Metropolitan Scholars to expand its college access program in the greater Washington D.C. metropolitan area. The program provides academic and financial support to low-income African-American high school students to prepare them to gain admission and succeed at selective colleges and universities.
The Foundation has also awarded grants to several programs that promote high-quality math and science education and understanding of capital markets and capital formation. These grants include:
$350,000 to the American Museum of Natural History to enhance the teaching and learning of science through the Urban Advantage program, which links New York City public school students to the city's leading science-rich institutions.
$300,000 to the Strategic Education Research Partnership (SERP) to launch a collaborative partnership with the Minority Student Achievement Network (MASN) to enhance algebra learning and academic achievement among minority and immigrant students in urban and suburban school districts experiencing rapid demographic change.
$440,000 to Student in Free Enterprise (SIFE) to train and support teams of German, Chinese and U.S. college students to teach high school students about capital markets and capital formation.
$225,000 to the National Council on Economic Education to develop and execute a capital markets professional development seminar for teachers and to develop an online capital markets course for teachers.