—ERIK W. ROBELEN
The philanthropy is awarding $6.5 million to the Alliance for College-Ready Public Schools, a Los Angeles-based charter school management organization. Along with another $3.5 million that alliance board members have raised separately, the group will use the $10 million to open 13 new middle and high schools in the metropolitan area over the next four years. It currently operates seven city charters serving 1,800 students.
In November, the Broad Foundation awarded $10.5 million to help another charter group, Green Dot Public Schools, open more charters in Los Angeles.
The grantmaker in May also committed $5 million to the NewSchools Venture Fund, a San Francisco-based venture philanthropy. The money will help that enterprise in its efforts to help start charter-management organizations and other entrepreneurial ventures that aim to increase the number and quality of charters, as well as help other public schools. NewSchools has concentrated its investments in several urban areas, including Chicago, Los Angeles, and New York City.
A version of this article appeared in the June 06, 2007 edition of Education Week