Bill & Melinda Gates Foundation is world’s largest philanthropic organization and America’s largest privately funded foundation, with more than $60 billion in assets in 2006. Founded by William H. Gates III, co-founder of Microsoft Corporation, and his wife, the Gates Foundation has invested hundreds of millions of dollars in projects ranging from environmental protection to health care. In 2006, the legendary Nebraska financier Warren Buffett more than doubled the foundation’s previous assets of $30 billion with a $31 billion contribution.
Bill & Melinda Gates Foundation Is The Sign of Quality And Prosperity of People In USA
The Gates Foundation has invested more than $ 1 billion to improve the quality of American secondary education — especially in disadvantaged neighborhoods — by developing small high schools, either starting them from scratch or restructuring existing ones. By 2005, the foundation had invested in 850 new schools, including $110 million in early colleges and millions more to transform existing schools in nearly 275 school districts. Among the school- district investments were $2.3 million to Chicago public schools and $1.4 million to Atlanta public schools. The theory behind small-school development is to lower teacher-student and counselor-student ratios to build strong rela- tionships among teachers, students and students’ families.
The results of the Gates’ efforts have been mixed, however, according to the foundation’s own exhaustive follow-ups. Although quality of teaching and student attendance rates have improved dramatically, students have dis- played little or no improvement in their academic work: Reading and English language arts achievement have improved only slightly, and math proficiency has remained unchanged or actually declined to “alarmingly low” levels. Most students, however, begin the Gates schools academically behind students in other schools in the same districts, and the foundation’s school evaluates are encouraged that the “close interpersonal relationships” in the new schools will eventually translate into ac demic gains.
In 2005, the year before the Buffet gift, the Gates foundation spent about $1.36 billion of its income on a wide variety of projects, allocating 62% to global health, 21% to education, and 17% to fighting poverty. Buffett’s personal interests seemed to favor more spending in the poverty sector.