Business, nonprofit leaders commit $100 million to education at White House meeting
July 20, 2011
Some of the top businesses and nonprofits made headlines in recent days after their meeting with President Barack Obama resulted in nonprofit fundraising
pledges of more than $100 million to help with education initiatives.
In a recent statement, the White House said that during the meeting with the president, industry leaders committed more than $118 million toward improving public schools in the United States. One of the biggest contributors to the cause was the Bank of America Charitable Foundation, which committed $50 million to help improve the lives of people in historically underserved communities.
In addition, computer industry giant Microsoft said it would be donating $15 million in new technology for schools.
The president was pleased with the outcome.
"A world-class education is the single most important factor in determining not just whether our kids can compete for the best jobs but whether America can outcompete countries around the world," said President Obama. "America's business leaders understand that when it comes to education, we need to up our game. That's why we're working together to put an outstanding education within reach for every child."