George Soros Gives $35 Million to Children in New York for Back-to-School Supplies
NEW YORK—To fight poverty in New York, George Soros, chair of the Open Society Institute, today announced a $35 million gift to support low-income families across the state purchasing supplies and clothing for the new school year. Back To School New York, a collaborative effort involving the State of New York and the U.S. Department of Health and Human Services, will provide $200 per child to the families of the more than 850,000 children receiving public assistance or food stamps in New York State. Mr. Soros and Governor David Paterson announced the program in New York City.
"Even in the toughest of economic times, starting the school year right is key to a child's success," said Mr. Soros. "When I was a student after World War II, I had no money. I received financial help, and I remember how important that was to my education. Since then I have been very fortunate and am happy to have the opportunity today to help others. I hope these funds will relieve some of the financial burden on New York's families," added Mr. Soros, whose gift was made by the Open Society Institute's sister organization, the Foundation to Promote Open Society, which he also chairs.
George Soros's donation of $35 million will go to the State Office of Temporary and Disability Assistance, which oversees programs for low-income families. The State will receive an additional $140 million in funding through the federal Temporary Assistance for Needy Families emergency contingency fund. This fund was established under the American Recovery and Reinvestment Act of 2009 and is solely dedicated to covering benefits and services targeted to needy families.
Starting today, the $175 million sum is providing eligible families of school children, ages 3-17, with a one-time payment of $200 per child. The funds are available through the Electronic Benefit Transfer (EBT) card system, which is used to access public assistance and food stamp benefits. Recipients can use their EBT card to withdraw the funds through an ATM, or to pay for items at retail locations where the cards are accepted. The recipients have 90 days to access the money. They do not have to take it all at once, however, and each time they draw on the funds, they will be granted another 90 days to draw on the remaining benefits.
"This first-of-its-kind partnership in New York is an example of how the public and private sectors can work together to foster a brighter future for the low-income families of our state," Governor Paterson said. "These $200 grants will provide these families with a financial boost so that they can better meet the educational needs of their children during these difficult economic times. It also continues my commitment to aggressively identify opportunities to use economic stimulus funds to bolster the economy of our state."
"Over the past year in New York City, we've attacked the national recession by doing more than ever to connect New Yorkers to employment, job training and the critical financial supports they need," said Mayor Bloomberg. "Governor Paterson and I agree that New York's brightest days are still ahead of us and we will continue to work hard for those in need. George Soros's generous gift—combined with federal funding—will not only provide welcome assistance as kids head back to school but will also pump money into our local economy at a time when we need it most."
As part of this landmark effort to provide financial relief to families across the state, Payless Shoesource, Princeton Review, Staples, and Target are partnering with Back to School New York to help promote this unique one-time benefit. An in-store display at supporting retailers will offer helpful tips like shopping for basic items first and involving children in getting ready for the new school year.
Mr. Soros's $35 million gift follows a $50 million pledge in May to help people in New York City living in poverty. These gifts, totaling $85 million, are among the largest ever made to satisfy basic necessities. In June, Mr Soros gave $100 million to help communities in Eastern Europe and the former Soviet Union, regions deeply affected by the global downturn. Over the past 25 years, his charitable foundations have given away some $7 billion to strengthen communities and justice around the world.
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