The has announced pledges totaling $2 million from and Tom Gores, chair and CEO of investment firm Platinum Equity and owner of the Detroit Pistons, to help launch the Flint Promise scholarship program.
To be administered by CFGF, with input from a stakeholder group that includes the , , the , , , the , , , the , and the , the scholarship program is designed to provide Flint students with more opportunities to pursue higher education and is slated to launch during the 2018-19 school year.
The pledge by Gores is the latest investment made under the banner of his campaign, a $10 million commitment by Gores to support a broad range of programs focused on the revitalization of his hometown of Flint, while the $1 million grant from the Consumer Energy Foundation is the largest ever made by the company and more than doubles the amount the company, its foundation, and its employees and retirees have contributed in support of Genesee County nonprofits.
"We still have a lot of work to do, but this commitment from the Gores family and the Consumers Energy Foundation ensures that Flint students will have an opportunity many didn't think possible," said CFGF president and CEO Isaiah Oliver. "It's an investment in Flint’s future and a vote of confidence in our children. It will also make our community even more attractive for additional investment."