The BASIC Fund Receives $20 Million Pledge, Creating Educational Opportunities for Bay Area Students
Gift provides $2 million annually for 10 years, supporting educational choice opportunities.
San Francisco, CA - Today, The BASIC Fund, a nonprofit scholarship fund for Pre-K through 8th Grade based solely on needs-based criteria, announced a pledge of $20 million from an anonymous family fund. Since its founding 26 years ago, The BASIC Fund has enabled nearly 30,000 students to attend the school that best fits their family's needs. The organization works with over 240 schools, currently supporting more than 3,200 students across nine SF Bay Area counties. A growing waiting list demonstrates the urgent need for even more such scholarships.
“Our donors recognize that children’s early education is a smart investment with proven results,” said Jim Herbert, Chairman of the Board, The BASIC Fund. “We know that when children have the best early education possible, they reach their full potential.”
Since 1998, BASIC Fund donors have raised nearly $200 million for children to get the right start in elementary school and set them on the path to success. More than ninety-eight percent of The BASIC Fund’s low-income scholars graduate high school, 92% continue their education after high school and fully 54% complete a 4-year college education. These results are on par with all students nationwide, regardless of income levels. In short, The BASIC Fund closes the opportunity gap for its students.
“With this generous pledge, the largest one-time pledge in our history, we will be able to welcome nearly 2000 additional students,” said Rachel Elginsmith, CEO of The BASIC Fund. “Our students are 5x more likely to graduate from college than their low-income peers. If we can ensure that students have the proper support and resources during the critical early years, we can set them up for long-term success.”
About The BASIC Fund
The BASIC Fund is a 501(c)3 nonprofit Scholarship Granting Organization (SGO) dedicated to providing educational scholarships to low-income students across the Bay Area, closing the opportunity gap for its students. Since 1998, The BASIC Fund has supported nearly 30,000 students, with 98% of scholars graduating high school, and 92% pursuing higher education with a graduation rate five times that of low-income students nationally. The BASIC Fund believes every child deserves a pathway to success. www.BASICFund.org
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