April 21, 2008 Foundations Pledge $19 Million to Strengthen Newark Public Charter Schools Newark-based and national foundations form a partnership to increase opportunity for Newark's youth

NEWARK, N.J. -- Seven charitable foundations announce $19 million in new funds to start and support high quality public charter schools in the city of Newark. Their collective commitment is part of a larger campaign to raise $25 million to strengthen the Newark public charter school movement.

Four national family foundations—the Bill & Melinda Gates Foundation, The Doris & Donald Fisher Fund, The Robertson Foundation, and The Walton Family Foundation—have pledged $4 million each, and their commitments will be administered through a newly established charitable entity, the Newark Charter School Fund.

To read the full press release, visit the Newark Charter School Fund Web site.

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Bill & Melinda Gates Foundation
Guided by the belief that every life has equal value, the Bill & Melinda Gates Foundation works to help all people lead healthy, productive lives. In developing countries, it focuses on improving people's health and giving them the chance to lift themselves out of hunger and extreme poverty. In the United States, it seeks to ensure that all people—especially those with the fewest resources—have access to the opportunities they need to succeed in school and life. Based in Seattle, the foundation is led by CEO Patty Stonesifer and co-chair William H. Gates Sr., under the direction of Bill and Melinda Gates and Warren Buffett.