STATE OF CONNECTICUT PARTNERS WITH DALIO PHILANTHROPIES TO STRENGTHEN PUBLIC EDUCATION AND PROMOTE GREATER
ECONOMIC OPPORTUNITY
Dalio Philanthropies Pledges $100 million, Largest Gift in Connecticut History; Collaboration Aims to Raise $300 Million to Benefit Youth and Under-Resourced Communities Throughout the State
(HARTFORD, CT) -
Ray and Barbara Dalio of Dalio Philanthropies joined Connecticut Governor Ned Lamont, Annie Lamont, leaders in the General Assembly, students and other stakeholders to launch a partnership to strengthen public education and promote greater economic opportunity in Connecticut. Through Connecticut’s leadership and Dalio Philanthropies’ support, the partnership seeks to raise $300 million over five years: $100 million from the State of Connecticut, matched by $100 million from Dalio Philanthropies and $100 million from other philanthropists and business leaders. The $100 million from Dalio Philanthropies is the largest known gift for philanthropic purposes in Connecticut history. The partnership will benefit residents of Connecticut’s under-resourced communities, with a specific focus on communities where there is both a high poverty rate and a high concentration of youth (14-24) who are showing signs of disengagement or disconnection from high school. Dalio Philanthropies and Connecticut formed the partnership in response to the state’s current challenges:
• More than one out of every five high school students in Connecticut are either disengaged or disconnected from school
• The annual fiscal impact of high school dropouts on the state budget is more than $900 million
• Connecticut ranks among the highest states in terms of income inequality
• Employers across the state are looking to hire skilled workers in historic and emerging industries
The partnership will:
• Work with local stakeholders to ensure that community voice and input shape programming design and help advance positive outcomes as quickly and sustainably as possible
• Serve disengaged and disconnected youth or entrepreneurs working in under-resourced communities
• Utilize practices with demonstrated positive impact in Connecticut or other states and communities
• Monitor, measure, and report progress against specific agreed upon impact objectives
• An independent organization will likely be formed to leverage community expertise and administer resources with representation from Dalio Philanthropies, and the legislative and executive branch
To learn more, visit:
www.daliophilanthropies.org.