A dozen wealthy foundations have announced that they will be collaborating to donate $506 million to match the federal grant funding program Investing in Innovation.
The foundations specifically are looking to invest in programs that encourage innovation in the classroom and also create new and innovative ideas for strengthening low-performing schools.
The foundations supporting the Investing in Innovation program include the following:
- The Annie E. Casey Foundation
- The Bill & Melinda Gates Foundation
- The Carnegie Corporation of New York
- The Charles Stewart Mott Foundation
- The Ford Foundation
- The John D. & Catherine T. MacArthur Foundation
- The Lumina Foundation
- The Robertson Foundation
- The Wallace Foundation
- The Walton Family Foundation
- The William & Flora Hewlett Foundation
- The W.K. Kellogg Foundation
Education Secretary Arne Duncan said, “This is how we should be working together. This is how sectors should collaborate. If this goes well, think of the possibilities going forward.”
Non-profit organizations, schools and school districts may apply online for the funding in one simple step to acquire funding from the multiple foundations. The deadline for application is May 12, 2010 and the programs will receive payment at the end of September.