December 18, 2008
213-736-5542, ext. 118
CAMINO NUEVO CHARTER ACADEMY RECEIVES MORE THAN $1 MILLION IN GRANTS
Funds will benefit both students and the local community
LOS ANGELES, DEC. 18, 2008 -- Camino Nuevo Charter Academy today announced gifts from two foundations totaling more than $1 million. The Eisner Foundation pledged $400,000 to the charter school's general operating budget, and Weingart Foundation pledged $750,000 to the school's sister organization, Pueblo Nuevo Development, for construction of a soccer field and basketball court that will serve Camino Nuevo students and community youth soccer leagues.
While many nonprofits are closing their doors or cutting back on programs during these bleak economic times, Camino Nuevo Charter Academy benefits from strategic financial planning and a track record of community service that continues to attract strong philanthropic support.
"We have healthy cash reserves that should see us through several years of hard times," said CEO Ana Ponce who oversees the organization's $14 million annual operating budget. "We will use these grants to enhance our instructional program, support our teachers and expand opportunities for sports to our community."
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About Pueblo Nuevo Development - Pueblo Nuevo Development is a nonprofit community development corporation that has been active in the MacArthur Park neighborhood since 1993. Pueblo Nuevo founded Camino Nuevo Charter Academy in 1999 and continues to work closely with the school developing education and recreational facilities for the community. The mission of Pueblo Nuevo Development is to provide opportunities for economic and educational advancement for the residents of the greater MacArthur Park neighborhood. For more information, visit www.pueblonuevo.org
About Camino Nuevo Charter Academy - Camino Nuevo Charter Academy is a network of college preparatory public charter schools, serving over 1,500 students in pre-school through high school. It was founded in August 2000 by Pueblo Nuevo development, a nonprofit community development corporation in the MacArthur Park/Pico Union neighborhood of Los Angeles. The mission of the school is to educate students in a college preparatory program to be literate, critical thinkers and independent problem solvers who are agents of social change. For more information, visit www.caminonuevo.org