EOS Foundation Pledges $15M to Launch Boston Rising Initiative
02/16/2008
The Eos Foundation, based in Harwich Port, which focuses on breaking the cycle of poverty by investing in children’s futures, recently pledged $15 million over five years to combat poverty in the Boston area.
The initiative, which will ultimately be spun off into an independent nonprofit, will be called “Boston Rising” and is modeled on Robin Hood, an innovative New York City-based group that draws significant support from hedge fund, financial, and industry leading professionals — over $130 million last year alone.
Another key element of Boston Rising will be its emphasis on applying business techniques to help non-profits make the greatest impact in alleviating poverty. The Eos Foundation hopes to leverage its gift and is in the process of raising matching funds to increase the impact.
“The Eos Foundation believes the clearest path to a better future is through working to alleviate poverty, especially as it affects children,” said Eos President Andrea Silbert, the co-founder of the Center for Women & Enterprise. “Boston Rising will bring new resources to bear on fighting poverty in our city, and we believe it will make a substantial long-term impact.”
The Eos Foundation is one of the 25 largest foundations in Massachusetts. It supports nonprofit organizations, public policies, and systemic solutions aimed at nourishing children’s bodies, nurturing their minds, and building family economic security. Its vision is an equitable and just society where the basic human needs of all individuals are met, and where children, in particular, grow up healthy and with opportunities for high quality education and the tools to achieve economic self-sufficiency.
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