Philanthropists donate $15M to East Harlem group - KMSP-TV

Philanthropists donate $15M to East Harlem group

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New York City News New York City News

NEW YORK (AP) - An East Harlem organization that operates charter schools and after-school programs for grades K-12 has received a $15 million donation.

The East Harlem Tutorial Program received the challenge gift from Jim and Marilyn Simons.

The Wall Street Journal says the organization hopes to raise a matching $15 million in a year and begin construction on a new building.

Officials say it's the largest single education-related donation ever in East Harlem.

The gift will anchor a $45 million campaign to expand the organization. It hopes to reach 20 percent of public school children in East Harlem by 2020.

Jim Simons made his fortune through his hedge fund, Renaissance Technologies.

In 2011, the couple donated $150 million to Stony Brook University, the largest gift to a public university in New York.

Information from: The Wall Street Journal, http://www.wsj.com

Copyright 2013 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

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