Thanks to a matching grant pledge of $2 million from Limited Brands, Columbus will become the third urban school district in Ohio to establish an endowment fund for public schools.

"This foundation will provide a long-term source of funds for programs aligned with the Columbus City School District's strategic plan by increasing community involvement," said Limited Brands Chairman and CEO, Les Wexner. Giving back to the community has always been an integral part of Limited Brands culture, and programs geared toward improving education continues to be a strategic focus.

The Columbus Public Schools Education Foundation is an independent organization that will focus on bringing "great ideas and opportunities to reform and innovative programs to the schools that local, state and federal funding wouldn't have been able to afford," said Gene Harris, Superintendent of The Columbus Public School System. One such idea is for expanding the dropout recovery program, helping students that have dropped out of school earn a high-school degree while gaining valuable job experience. The foundation board will operate completely independently of the Columbus school board and will represent a cross-section of the Columbus community.

December, 2006