Every kindergartner in public school in New York City got something new this year: a college savings account with a balance of $100. By the time high-school graduation arrives in the 2030s, the average account is projected to be worth $3,000. That’s not enough to cover college tuition, but there’s research pointing to other important benefits. Even a small amount in a dedicated college account appears to enhance the chances that a student will stay in school and go to college.
PRESS HIGHLIGHTS
Genetic Testing Saves Lives. So Why Aren’t More Women Of Color Doing It?
Doctors at the University of Pennsylvania are leading the charge to provide life-saving cancer screening tests for minority women—and Latinas in particular. Testing for the BRCA gene mutation can transform outcomes for women at high risk for breast and ovarian cancer. But Black and Latinx women aren’t getting tested at the same rates as white women. Studies have repeatedly shown that women of color are less likely than white women to be recommended for genetic testing by their doctors, and those who are advised to test meet numerous barriers to entry.
Seeding Accounts for Kindergartners and Hoping to Grow College Graduates
New York City is giving every public school kindergartner a college savings account. Roughly 70,000 students are receiving a college savings account with $100 already invested and the potential to receive up to $200 more. The establishment of a program by the largest school system in the country is the latest governmental endorsement of accounts meant to use modest investments to help set every child on the path to education beyond high school.
PRESS ARCHIVES
Billionaires, a Beatle and Eric Adams Plot NYC’s Comeback
Among the benefit decorations were 10,000 “Robin Hood” MetroCards, which represented the 10,000 actual MetroCards, each loaded with $33, that arrived this week. They will be distributed to some of the 900 nonprofits that the foundation works with, to get into hands that need the transit fare cards the most. The MetroCards were paid for by the Gray Foundation, founded by Jon Gray, COO of Blackstone, and his wife, Mindy.
Money for Kindergartners, Spendable on College
Every kindergartner in public school in New York City got something new this year: a college savings account with a balance of $100. By the time high-school graduation arrives in the 2030s, the average account is projected to be worth $3,000. That’s not enough to cover college tuition, but there’s research pointing to other important benefits. Even a small amount in a dedicated college account appears to enhance the chances that a student will stay in school and go to college.
Genetic Testing Saves Lives. So Why Aren’t More Women Of Color Doing It?
Doctors at the University of Pennsylvania are leading the charge to provide life-saving cancer screening tests for minority women—and Latinas in particular. Testing for the BRCA gene mutation can transform outcomes for women at high risk for breast and ovarian cancer. But Black and Latinx women aren’t getting tested at the same rates as white women. Studies have repeatedly shown that women of color are less likely than white women to be recommended for genetic testing by their doctors, and those who are advised to test meet numerous barriers to entry.
Seeding Accounts for Kindergartners and Hoping to Grow College Graduates
New York City is giving every public school kindergartner a college savings account. Roughly 70,000 students are receiving a college savings account with $100 already invested and the potential to receive up to $200 more. The establishment of a program by the largest school system in the country is the latest governmental endorsement of accounts meant to use modest investments to help set every child on the path to education beyond high school.
New York City is funding college plans for students in the hopes of closing the wealth gap
The initiative, led by non-profit NYC Kids Rise, began giving every kindergartner in the district $100 in a 529 college savings account in 2017. Starting this fall, every public school kindergarten student in New York City will get $100 in a 529 account. “For New York to come back stronger than before the pandemic, we must address the widening wealth gap that holds so many kids back from opportunities,” New York Mayor Bill de Blasio said at an event Thursday kicking off the expanded program. The city committed $15 million per year through 2025 to the initiative, in addition to $15 million in funding from the nonprofit Gray Foundation. On top of the the initial $100 deposit, students have the opportunity to earn an extra $200 in rewards.
City to issue ‘baby bonds’ to all NYC kindergarteners with Juneteenth economic plan
A pilot program aimed at helping New York’s children build a foundation for their future is becoming a universal initiative. Beginning this fall, every New York City kindergartener will receive a $100 “baby bond” to help set up the city’s youngest students with the very beginnings of their savings.
NYC To Create College Savings Accounts For Every Public School Kindergartener In 2022
To tackle New York City’s persistent racial wealth disparity, the city will create savings plans next year for every public kindergarten student that will have a minimum deposit of $100 in each account as part of a slate of economic justice programs in honor of Juneteenth, Mayor Bill de Blasio announced Thursday.
Recovery for All of Us: Mayor de Blasio and Taskforce on Racial Inclusion and Equity Announce Juneteenth Economic Justice Plan
Mayor Bill de Blasio and the Taskforce on Racial Inclusion and Equity (TRIE) today announced the NYC Juneteenth Economic Justice Plan: Building Generational Wealth. The NYC Juneteenth Economic Justice Plan seeks to build generational wealth and confront the persistently growing racial wealth gap in America.
College savings program for elementary students in western Queens public schools receives $70,000 donation
More than 1,900 students in kindergarten, first, second and third grade across five public schools in Jackson Heights, East Elmhurst and Corona will receive a $70,000 investment in their educational futures through a college savings program. NYC Kids RISE, a nonprofit working to expand economic opportunity and equity through education savings, and MetLife Foundation announced the $70,000 investment for the western Queens students enrolled in the NYC Kids Rise Save for College Program.
NYC to pay $500 to nearly 1,000 parents to address mental health needs at their schools
The education department is launching a training program next month for parents, paying them $500 to become “wellness ambassadors” addressing mental health needs in their school communities. The initiative will pay the stipend to parent leaders from roughly 950 schools in neighborhoods hardest hit by the coronavirus.
College Savings Accounts for All NYC Kids
Given the unprecedented day-to-day challenges and historic unemployment rates our city faces, many New Yorkers tried to end 2020 with as much of their fragile savings intact as possible. It seems beyond the imagination in this new year of challenges to think about saving for your children’s college education. However, it is just that kind of “I’ll think about that tomorrow” thinking that jeopardizes the ability of children to indeed attend college when they come of age. And it is just that kind of thinking that inspired me when I served as commissioner of the Department of Consumer Affairs to create and drive the launch for the city of the first of its kind public-private partnership, NYC Kids RISE, a city college savings program that works in collaboration with New York State’s 529 College Savings Program.
New York City Students Get Early Assist in Saving for College
NYC Kids RISE program is helping more than 10,000 students in schools in western Queens with funds. Students in the area—which includes a large immigrant population and many low-income households—are automatically enrolled in the program when they start kindergarten, receiving $100 in a program-operated college-savings account, known as a 529, along with opportunities for additional money. Families can also receive help in opening separate accounts that provide tax-free savings and withdrawals for higher education. The two savings accounts can be used together.
Former Teach for America Executive Director Charissa L. Fernández Joins Gray Foundation
Charissa L. Fernández, former Executive Director of Teach for America – New York (TFA-NY) joined the Gray Foundation as a Senior Advisor. Ms. Fernández will lead the organization’s Scholarship Programs, support the NYC Youth Portfolio and contribute to the Foundation’s organizational development. “Charissa’s deep experience in the non-profit sector – particularly in education – will be a powerful addition to our Foundation as we seek new ways to support low-income youth in New York City,” said Mindy and Jon Gray.
CUNY Chancellor’s Emergency Relief Fund to Aid Students Impacted by COVID-19 Pandemic Grows by 70 Percent Since April Launch
Generosity of foundations, corporations And individual donors enables University to help 6,000 students, more than half of them undocumented students who were excluded from Federal CARES Act relief. The City University of New York’s Chancellor’s Emergency Relief Fund, established in the spring to help students facing financial hardship during the COVID-19 pandemic, has grown by more than $2.25 million, or 70 percent, surpassing $5.5 million in contributions, and awarded $500 grants to 6,000 CUNY students thus far, with funds on hand to help more than 5,000 additional students in coming months.
Mayor de Blasio, with Support from Philanthropic Community, Announces Summer Bridge Program to Serve Thousands of New York Teens
Mayor de Blasio today announced SYEP Summer Bridge 2020, a $51M public-private partnership that will provide constructive engagement and enrichment activities to keep 35,000 New York City youth active and productive this summer. Beginning in late July, the program will engage teens in a series of career exploration and project-based learning activities that will help them build their skills and prepare them for their next steps in the fall. “In this challenging time, ensuring that NYC youth have opportunities to work and learn this summer is critical. We are proud to be part of this public-private partnership and to support Summer Bridge’s mission of enabling young New Yorkers to explore careers, lead projects and engage in civic opportunities,” said Mindy and Jon Gray.
Building a Financial Foundation for Our Children’s Future on 529 Day
In the face of profound economic hardship and uncertainty, families and school communities across one of the most diverse and hardest-hit areas of our city are coming together today in recognition of their collective work to build a financial foundation for their children’s futures. 529 Day, named after 529 college savings plans, which are investment accounts specifically designed for college and career savings, is an annual opportunity to build community around preparing for college and career training. This year’s 529 Day comes as New York City’s communities — particularly its low-income communities, communities of color, and immigrant communities — are bearing the brunt of a public health and economic crisis like nothing we have seen in our lifetimes.
Catalyzing Collaborations in Cancer Research
About 1 in 400 people in the U.S. carry mutations in the BRCA1 gene, the BRCA2 gene, or both—genetic variations that can dramatically increase their chances of developing breast, ovarian, prostate, or pancreatic cancers. With a $3 million grant from the Gray Foundation, Joan Brugge, PhD and a team of colleagues from HMS, its affiliate hospitals, and other labs around the world will use various technologies to investigate the minute changes that take place within cells on the road from health to tumorigenesis. If researchers could identify and track these changes, they could precisely time double mastectomies—interventions that practically eliminate the risk of breast cancer in these women—or, eventually, develop strategies that interfere with these processes to stymie tumor progression.
More Than Ever, Summer Is For School: A Coronavirus Imperative
As we stay home and keep ourselves and our families healthy and safe, students — and colleges — must use this time to socially distance productively. Toward that end, Hunter is planning to offer the most diverse menu of summer courses in its history, featuring top scholars, teachers and practitioners, so students can turn a lost season into a productive one. At the same time, recognizing that many students will be unable to secure summer jobs to help pay for their education, Hunter is working to make summer offerings more affordable. To date, we have raised more than $300,000 from generous donors like Jonathan and Mindy Gray. It has provided nearly 500 students with funds to help shore up their financial situations.
Investing in New York City’s Future
Across every borough, neighborhood, and community in NYC, families are united behind one wish: that their children will have the access and opportunity to fulfill their dreams. Making this wish a reality, however, is more complicated. To bridge the gap of what’s possible for NYC’s youth, we need meaningful collaboration among government, the private sector, philanthropy, and local communities to provide actual funding and support to increase college and career-training access. We need a universal college savings system for every student. In Queens, the NYC Kids RISE Save for College Program, every kindergartener over the past three years has automatically received an NYC Scholarship Account with a $100 initial deposit.
The Biggest Philanthropic Gifts Of 2019
Forbes tallied the biggest reported charitable gifts and pledges made in 2019. Some sub-$100-million gifts and pledges that made headlines for their potential impact include Blackstone president Jonathan Gray’s $25 million donation to tackle breast cancer.
LIC Residents Encouraged to Raise College Funds for Children through New Campaign
A new campaign is encouraging residents and businesses in Long Island City Queens to invest in local public school children. The goal is to raise at least $30,000 for the education savings accounts of 900 children attending five nearby schools.
University of Pennsylvania announces $10M gift from alumni Mindy and Jon Gray to support first generation students from NYC
In recognition of Mindy and Jon Gray’s philanthropy, Penn will annually select an outstanding cohort of 10 students from New York City accepted to any of Penn’s four undergraduate schools who qualify for the highest level of financial aid and for the benefits available through the Penn First Plus program. These students will receive grants that cover the full tuition and expenses associated with attending Penn. The gift is emblematic of the Gray’s mission to maximize access to education, healthcare and opportunity for low income children in NYC.
Blackstone’s Jon Gray Donates $10 Million for Financial Aid at UPenn
Mindy and Jon Gray are giving the University $10 million to support 10 students from New York City annually. The gift will also provide funding for Penn First Plus, which seeks to give the full college experience to low-income and first-generation students.
Nina Garcia Honored At Basser Center Gala For Cancer Research
After a public preventative double mastectomy earlier this year, ELLE’s own Editor-in-Chief Nina Garcia accepted an honor “not for myself, but for all of the women who are not as fortunate as I am, the women who didn’t have access to genetic counseling, insurance, or a support system…This is for my sisters everywhere.”A video played in Spanish of the Project Runway judge emphasizing the new LATINX x BRCA initiative Basser started this year to educate the Latinx community about BRCA-related cancers. According to the Susan G. Komen Foundation, breast cancer is the leading cause of cancer death among Hispanic women, who are more likely to be diagnosed with later stage cancers.
Blackstone Leaders Ignore Politics for a Night to End Cancer
The Basser Jean Bash raised more than $8.5 million for BRCA research. Jon and Mindy Gray founded the Basser Center for BRCA at the University of Pennsylvania seven years ago to focus on the gene mutations that increase risk for breast, ovarian and other BRCA-related cancers. The Grays have given $55 million, and Blackstone colleagues have chipped in more, to fund research that has led to FDA-approved therapies prolonging life and pay for genetic counseling that has helped families navigate medical decisions.
Event in Manhattan raises over $8.5 million for research on BRCA-related cancers
An event in Lower Manhattan Monday night raised more than $8.5 million for research on BRCA-related cancers. Eyewitness News reporter and cancer survivor Stacey Sager proudly took part in the Basser Jean Bash at Cipriani Wall Street. The event raised money for The Basser Center for BRCA at Penn Medicine’s Abramson Cancer Center which is making great progress in the fight against the genetic mutations that cause some breast and ovarian cancers.
Basser Center takes aim at BRCA
Twenty-five years after the discovery of genetic mutations that dramatically increase cancer risk, Penn Medicine’s Basser Center for BRCA is building scientific knowledge alongside public awareness about BRCA-related cancers.
Beyoncé’s Dad Has a Mutation More African-Americans Should Be Tested For
A New York Times Opinion piece written by Erika Stallings, the founding co-chairwoman of the Young Leadership Council of the Basser Center for BRCA at the University of Pennsylvania.
Dr. Lewis Cantley Awarded Grant from Gray Foundation
Dr. Lewis Cantley, the Meyer Director of the Sandra and Edward Meyer Cancer Center at Weill Cornell Medicine, has been awarded a grant from the Gray Foundation to study the genetic mutations that can lead to breast and ovarian cancer, investigating how early-stage precancerous cells can be recognized by the immune system and targeted with preventive or therapeutic cancer vaccines.
The Gray Foundation Donates $25 Million in Funding for Cancer Research
Simpson Thacher is representing the Gray Foundation in connection with the foundation’s donation of $25 million in funding for seven multi-institutional research teams to study new approaches for the early detection, diagnosis and therapy of BRCA-related cancers.
Jonathan and Mindy Gray Give $25 million for Breast and Ovarian Cancer Research
Jonathan and Mindy Gray have given $25 million through their foundation for research on genetic mutations that can lead to breast and ovarian cancer. The money will be shared by seven multidisciplinary research teams at the Cleveland Clinic, Harvard Medical School, Johns Hopkins University School of Medicine, the University of Pennsylvania, the University of Texas Health Science Center at San Antonio, Weill Cornell Medicine, and NewYork-Presbyterian/Weill Cornell Medical Center.
Gray Foundation Awards $25M in Cancer Research Grants
The Gray Foundation has awarded $25 million in funding to seven multi-institute teams conducting research related to the prediction, prevention, and treatment of BRCA-related cancers.
Deputy Director of Penn’s Abramson Cancer Center Receives $3 Million Grant from The Gray Foundation
Katherine L. Nathanson, MD, deputy director of the Abramson Cancer Center at the University of Pennsylvania and the Pearl Basser Professor for BRCA-Related Research in Penn’s Perelman School of Medicine, has been awarded a $3 million research grant from the Gray Foundation.
Cleveland Clinic researcher receives $1.6 million to study breast cancer growth, progression
Dr. Charis Eng, chair of Cleveland Clinic Genomic Medicine Institute, has received a $1.6 million grant from the Gray Foundation.
Gray Foundation grant expands studies of BRCA in breast, ovarian cancer
UT Health San Antonio leads consortium examining loss of DNA repair. Patrick Sung, D.Phil., of UT Health San Antonio, is the principal investigator of a $3.75 million, four-year “team science” grant announced today [July 23] by the Gray Foundation of New York.
Blackstone President Jonathan Gray Donates $25 Million To Tackle Deadly Breast Cancer Gene
On Tuesday, private equity tycoon Jonathan Gray and his wife Mindy announced $25 million in funding for research on pernicious genetic mutations that can lead to breast and ovarian cancer. The grants will be split among seven research teams across the globe, and brings the couple’s lifetime philanthropic giving to over $175 million — including over $100 million in BRCA research.
The Gray Foundation Announces $25 Million in New Team Science Funding for BRCA-Related Cancer Research
The Gray Foundation today awarded $25M in funding for seven multi-institutional research teams to study new approaches for the early detection, diagnosis, and therapy of BRCA-related cancers. These grants raise the Foundation’s giving to BRCA causes to over $100 million.
Breast cancer stalked every woman in her family. She was determined it wouldn’t get her
Alejandra Campoverdi forged a path for herself that some only dream of, turning humble beginnings into a life of poise and power. She had been that perfect student who made it to USC and then Harvard against all odds. She turned a volunteer position with then-Sen. Barack Obama’s presidential campaign into a post at the White House.
Seamless partners with NYC Kids RISE to “Donate the Change” for college scholarship accounts
For the whole month of February, every order on Seamless includes an option to “Donate the Change” to NYC Kids RISE! NYC Kids RISE will be depositing the donated money into the NYC Scholarship Accounts of all current students in the Save for College Program.
Yale Cancer Center receives $1 million grant from Gray Foundation for breast cancer research
Yale Cancer Center (YCC) is proud to announce the Basser BRCA Initiative grant. The $1 million, three-year gift was awarded to YCC by the Gray Foundation to advance the next generation of cancer therapies. Leveraging research currently being done at Yale to define the fundamental biology and molecular roles of the BRCA cancer susceptibility genes, this gift from the Gray Foundation will enable the development of transformative new therapeutic approaches for patients with BRCA-driven malignancies, which can increase the lifetime risk for cancers including breast, ovarian, pancreatic, prostate and melanoma.
American Talent Initiative Shows Increased College Access for Lower-Income Students
A nationwide alliance of leading colleges and universities has made significant progress in improving opportunity for low- and moderate-income students, according to a new report.
City program announced in LIC lets public school parents help save for college education
The NYC Kids RISE Save for College Program has announced that savings of up to $100 will be matched for participating first-grade families. Schools Chancellor Richard Carranza joined students, parents, faculty and elected officials last week for the first Building Block Party to celebrate the savings match. The gathering at P.S. 76 in Long Island City included coloring for the kids and an opportunity for everyone to share savings tips.
Susan Domcheck, executive director of the Basser Center for BRCA, elected to the National Academy of Medicine
Four faculty members from the Perelman School of Medicine have been elected to the National Academy of Medicine (NAM), one of the nation’s highest honors in biomedicine. Susan M. Domchek is the Basser Professor in Oncology, executive director of the Basser Center for BRCA at the Abramson Cancer Center, director of the MacDonald Women’s Cancer Risk Evaluation Center, and a senior fellow at the Leonard Davis Institute of Health Economics. She is a nationally recognized breast and ovarian cancer expert.
Blackstone COO Jonathan Gray On Giving To Education, Cancer Research
Jonathan Gray has had a good 2018: in February, the former head of Blackstone’s $119 billion (assets) real estate division was promoted to chief operating officer and president, 26 years after he started at the private equity giant. But his accomplishments are not only in business; Gray is also making his mark in philanthropy. He debuts at No. 49 on Forbes’ America’s Top 50 Givers list, having doled out $23 million in charitable donations in 2017. In total, he has given over $120 million in his lifetime, primarily to cancer research and health and education in New York City.
NYC Kids RISE Celebrates a Successful First Year
A kindergarten class at P.S. 111 in Long Island City is still working on the alphabet, but the city already is making sure each of the 4- and 5-year-olds can have a college savings account.
Meet Potamkin Prize Awardee, Susan Domchek, M.D.
We are thrilled to announce that Dr. Susan Domchek, Director of the Basser Center for BRCA at Penn Medicine’s Abramson Cancer Center, is the PA Breast Cancer Coalition’s 2018 Potamkin Prize Awardee. Please enjoy this video featuring Dr. Domcheck and the amazing work she has done to advance the care of individuals with BRCA gene mutations.
PBS Announces KEN BURNS PRESENTS THE GENE: AN INTIMATE HISTORY, New Collaboration with Siddhartha Mukherjee, M.D. Three-Hour Documentary to Premiere Spring 2020 on PBS
PBS announced KEN BURNS PRESENTS THE GENE: AN INTIMATE HISTORY, a new three-hour documentary executive produced by Ken Burns, will premiere over three nights in Spring 2020 on PBS. Pulitzer Prize-winning author Siddhartha Mukherjee, M.D., and acclaimed filmmaker Ken Burns will collaborate on the new documentary inspired by Mukherjee’s best-selling 2016 book, The Gene: An Intimate History.
Gray Foundation seeds research on non-surgical breast cancer risk reduction
Jon Gray, president and chief operating officer of Blackstone, one of the world’s leading investment firms, and his wife, Mindy, recently awarded $1.5 million to fund an important collaboration between Dana-Farber and Harvard Medical School aimed at developing non-surgical alternatives for reducing breast cancer risk in women who carry BRCA1 mutations.
Thousands of NYC teens explore the Metropolitan Museum of Art at interactive event
Twice each year, the Gray Foundation partners with the Metropolitan Museum of Art to produce Teens Take The Met! – an innovative, teen-centric evening dedicated to art and culture. More than 40 New York City youth and cultural organizations come together to provide interactive programming including workshops, performances, art making, demonstrations, photography, and more for thousands of teens from across the city’s five boroughs. The event is made possible through the Gray Foundation, who serve as the singular sponsor for this year’s event, held Friday, June 1st from 5-8pm. The event is free for all teens with a valid middle or high school ID.
Finance Chiefs Kravis, Ackman and Gray Have Advice for New Philanthropists
On two big issues, Jon Gray, president and chief operating officer of Blackstone Group LP, has identified unmet needs and set out to fill them, not by funding existing organizations but by starting programs with carefully chosen leaders and partners.