Published 04-11-05
Submitted by Goldman Sachs Group, Inc.
Commenting on the new grants, Stephanie Bell-Rose, President of The Goldman Sachs Foundation, said, "These grants address critical needs in education - academic enrichment for gifted youth who have traditionally been underrepresented on top college campuses, economic and financial literacy, and teacher training. Collectively they represent our commitment to preparing leaders of tomorrow and the teachers who will help guide them to success."
With selected grants, the Foundation will combine a contribution of financial and intellectual capital in the form of Goldman Sachs professional expertise through its distinctive brand of "venture philanthropy" - the practice of high-engagement grant making that accesses the core competencies of Goldman Sachs to enrich grantee programs. The Foundation will leverage a network of volunteers who will serve as mentors, teachers, advisory board members, and presenters on such topics as entrepreneurship, business planning, and leadership.
The grants announced today include:
The Foundation has also made a grant to the Education Testing Service (Princeton, N.J.) to continue an ongoing independent evaluation of Foundation programs.
About The Goldman Sachs Foundation
The Goldman Sachs Foundation is a global philanthropic organization funded by The Goldman Sachs Group, Inc. The Foundation's mission is to promote excellence and innovation in education and to improve the academic performance and lifelong productivity of young people worldwide. It achieves this mission through a combination of strategic partnerships, grants, loans, private sector investments, and the deployment of professional talent from Goldman Sachs. Funded in 1999, the Foundation has awarded grants in excess of $62 million since its inception, providing opportunities for young people in more than 20 countries.
Goldman Sachs is a leading global investment banking, securities and investment management firm, which provides a wide range of services worldwide to a substantial and diversified client base that includes corporations, financial institutions, governments and high net worth individuals. Founded in 1869, it is one of the oldest and largest investment banking firms. The firm is headquartered in New York and maintains offices in London, Frankfurt, Tokyo, Hong Kong and other major financial centers around the world.
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