FAIRFIELD, Conn.--(BUSINESS WIRE)--Dec. 16, 2004--The GE Foundation announced today that it is establishing the Greatest Generation Scholarships Program, investing $2 million in scholarships for high-need New York City students who exhibit a commitment to community service. The program is being established in honor of Tom Brokaw, who recently stepped down as anchor and managing editor of "NBC Nightly News," and is named after Brokaw's best-selling book about the generation of men and women who helped transform America after World War II.
Brokaw said, "I am greatly honored and deeply grateful to the GE Foundation for this generous and timely program. Meredith and I have long been supporters of the New York City schools and we hope the Greatest Generation Scholarships Program will help the school system in its current and exciting campaign to move to the next level."
The scholarships will support students who demonstrate the values of the "Greatest Generation" -- excellence, leadership, and selfless service to community. The GE Foundation will work with the New York City Department of Education to implement the program.
GE Chairman and CEO Jeff Immelt said, "The Greatest Generation Scholarships will enable students from the New York City public schools to pursue their educational dreams and carry on the American tradition of serving others. Generations of Americans have displayed unyielding courage, commitment and sacrifice in leading this country to greatness. These scholarships will provide students with the opportunity to lead their generation into the future."
The scholarships will target high-potential students from low-income families who exhibit academic performance, leadership skills and a commitment to community service. Each year for a period of four years, the GE Foundation will provide:
-- each student with a $15,000 college scholarship; -- $2,500 for a service program with which the student is involved; and -- $2,500 to strengthen the high school the student attended.
Joel I. Klein, New York City Schools Chancellor said, "GE is an outstanding supporter of New York City public schools. On behalf of our City's students, I would like to thank GE for providing an exceptional model for how the private sector can contribute to the lives of our children and provide students with the opportunity to achieve, lead, and serve others in college. I would also like to take this opportunity to commend Tom Brokaw for his distinguished career as a television journalist and news-show anchor. We and the Fund for Public Schools look forward to working with GE to identify the next `great generation' in our schools."
GE Vice Chairman and NBC Universal Chairman and CEO Bob Wright said: "The 'Greatest Generation,' as Tom defined it, is made up of individuals who overcame long odds and became extraordinary. This scholarship program will enable a new generation of young people to do the same. I can't think of a more fitting tribute to Tom Brokaw, who has made his own extraordinary contribution to our nation."
GE Foundation President Bob Corcoran said, "The GE Foundation is dedicated to supporting education and motivating and preparing students for future success. The students who will receive these scholarships are part of a generation that will one day lead our nation. A quality education will prepare them and provide a lifetime of endless opportunities."
Information on the scholarship criteria, administrators and application process will be made available to New York City Public School students in the coming months.
The GE Foundation, the philanthropic organization of the General Electric Company, works to strengthen educational access, equity, and quality for disadvantaged youth globally; and supports GE employee and retiree giving and involvement in GE communities around the world. In 2003, the GE Family contributed $140 million to community and educational programs, including $50 million from the GE Foundation. For information, visit www.gefoundation.com.
The Fund for Public Schools is the non-profit organization affiliated with the New York City Department of Education. Its mission is to inspire belief in public schools and our ability to make them better; to increase private sector support of public education and to encourage every New Yorker to participate in our City's schools. The Fund seeks critical funding for system-wide educational reform initiatives; helps businesses partner with individual schools and programs; supports volunteering and reaches out to the entire City to create awareness about our public schools' needs. For more information about the Fund, log on to www.fundforpublicschools.org.
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CONTACT:
General Electric, Fairfield
Gary Sheffer, 203/373-3476