|
The Lozano Long $10 Million Promise to Hispanic Texas
The Lozano Long $10 Million Promise to Hispanic Texas is a pledge by our founders, Joe R. Long and Teresa Lozano Long, establishing a $10 million permanent endowment with the express purpose of benefiting Hispanic youth in Texas by furthering the Five Promises of America's Promise.
COMPONENTS OF PROGRAM
The endowment will be a dedicated program of The Long Foundation to benefit Texas Hispanic youth and will make annual grants to charities, schools and universities, and government
programs.
Selected programs must be located in areas or targeted at groups with large Hispanic populations and must support the youth of those areas or groups by fulfilling at least one of the Five Promises of America's Promise.
FUNDING PRIORITIES
To be considered for funding, programs must be aimed at fulfilling one of the Five Promises of America's promise, which include:
-
Promoting ongoing relationships with caring adults – parents, mentors, teachers, tutors and coaches;
-
Providing safe places with structured activities during nonschool hours;
-
Promoting healthy start and future;
-
Providing marketable skills through effective education; and/or
-
Providing opportunities to give back through community service.
SUMMARY OF FUNDING
Though full funding of this endowment may not occur until the deaths of both Joe and Teresa, annual grants will be funded under this dedicated program as if the endowment were
funded at a rate of $1,000,000 per year over ten years, with a total grant payout rate of 5% per year. Therefore, $50,000 in grants will be funded the first year, $100,000 in grants the second year, and so
on. By the tenth year, the program will fund $500,000 in grants annually, just as if the program were endowed with the full $10,000,000.
It is anticipated that the first grants under this program will be made in 2003.
GRANT REQUIREMENTS AND GUIDELINES, AND THE GRANT APPLICATION PROCESS
For information on grant requirements and guidelines under this program, as well as the grant application process, please click on the icon at the left.BACKGROUND ON AMERICA'S PROMISEAmerica's Promise was founded after the Presidents' Summit for America's Future in 1997 where Presidents G.H.W. Bush, Carter, Clinton, and Ford, with Nancy Reagan representing
President Reagan, challenged the country to make children and youth a national priority. Colin L. Powell is the founding chairman. For additional information on America's Promise, please go to www.americaspromise.org.
ADDITIONAL INFORMATION
For additional information please see the press release relating to the announcement by clicking on the icon at the left and/or by contacting Mitchell Long, Executive Director of
the Long Foundation by telephone at 512.479.4080 or by e-mail Mitchell@longfoundations.org.
|
|
