Broad Foundation Awards $2.5 Million in New Grants to

NEW YORK, April 9, 2009 — Two of New York City’s highest-performing nonprofit, public charter school management organizations – Uncommon Schools and the Success Charter Network – will receive a total of $2.5 million to fund schools that provide a high quality public education for thousands more city students, The Eli and Edythe Broad Foundation announced today.

Broad Foundation Founder Eli Broad joined New York City Schools Chancellor Joel Klein, Success Charter Network Founder Eva Moskowitz, and Uncommon Schools Managing Director Brett Peiser to make the announcement after the group toured one of the Success Charter Network schools: Harlem Success Academy 2 on 140th St. and Frederick Douglass Blvd.

“In this day and age, we all need to ensure that our dollars are invested as wisely as possible,” said Eli Broad, founder of The Eli and Edythe Broad Foundation. “And the smartest investment a foundation can make is to replicate the very best public schools in a model city of reform like New York. These charter schools are proving that when public schools extend their school days, offer a challenging curriculum, and customize instruction, their students thrive, and parents demand more.”

The $2.5 million in grants will be distributed as follows:
• Uncommon Schools will receive $1.5 million over three years to support the opening of new schools in Brooklyn, New York, to provide a capital investment for school facilities, and to support home office operations. By 2014, Uncommon Schools will grow to operate 33 schools, 20 of which will be located in New York City.
• Success Charter Network will receive $1 million over two years to support its existing four Harlem Success schools and to help open new schools in the New York City area.

The network plans to open 40 new schools over the next 10 years.