Rosenwald Fund
Julius Rosenwald and his family established the The Rosenwald Fund in 1917 for "the well-being of mankind." Unlike other endowed foundations, which were designed to fund themselves in perpetuity, The Rosenwald Fund was intended to use all of its funds for philanthropic purposes. It donated over 70 million dollars to public schools, colleges and universities, museums, Jewish charities and black institutions before funds were completely depleted in 1948.
The school building program was one of the largest programs administered by the Rosenwald Fund. Using state-of-the-art architectural plans designed by professors at Tuskegee Institute, the Fund spent more than four million dollars to build 4,977 schools, 217 teachers' homes, and 163 shop buildings in 883 counties in 15 states, from Maryland to Texas. The Rosenwald Fund used a system of matching grants. Black communities raised more than $4.7 million to aid in construction . These schools became known as "Rosenwald Schools." By 1932, the facilities could accommodate one- third of all African-American children in Southern schools. Research has found that the Rosenwald program accounts for a sizable portion of the educational gains of rural Southern blacks. This research also found significant effects on school attendance, literacy, years of schooling, cognitive test scores, and Northern migration, with gains highest in the most disadvantaged counties.
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Famous quotes containing the word fund:
“School success is not predicted by a child’s fund of facts or a precocious ability to read as much as by emotional and social measures; being self-assured and interested: knowing what kind of behavior is expected and how to rein in the impulse to misbehave; being able to wait, to follow directions, and to turn to teachers for help; and expressing needs while getting along with other children.”
—Daniel Goleman (20th century)