Mayor Michael R. Bloomberg and Schools Chancellor Joel I. Klein today announced a commitment by the Partnership for New York City, the city's leading business organization, to raise $30 million to fund the New York City Leadership Academy, the centerpiece of the Children First reform agenda.  The Leadership Academy is a system-wide effort to attract and train outstanding principals to lead the necessary transformation of New York City schools.

The Mayor and the Chancellor were joined at the announcement by the Co- Chairman of the Partnership, Jerry I. Speyer, President & CEO, Tishman Speyer Properties, along with Richard D. Parsons, Chairman and Chief Executive Officer of AOL Time Warner Inc. and a member of the Leadership Academy Advisory Board; David Coulter, Vice-Chairman of J.P. Morgan Chase & Co.; Robert M. Johnson, Chairman and Chief Executive Officer of Bowne & Co.; Steven Rattner, Chair, New York City Public Private Initiatives; William C. Rudin, President, Rudin Management Company, Inc.; Kathryn S. Wylde, President and CEO of the Partnership; Caroline Kennedy, Chief Executive of the Department of Education's Office of Strategic Partnerships and Bob Knowling, Chief Executive Officer of the Leadership Academy. 

“I thank the members of the Partnership for New York City for their generosity and public spirit,” Mayor Bloomberg said.  “I am grateful that so many of the City's business leaders are energetically supporting our efforts to reform New York City's public schools.  The Partnership's commitment today is a powerful vote of confidence for our Children First reform agenda.  The support of the Partnership, with its outstanding membership of New York City business leaders, brings us closer to achieving our goal of ensuring that every child in our City has the opportunity to attend a great school.”

“We need great leaders to build great schools,” said Chancellor Klein.  “That is why supporting and empowering principals is at the heart of our reform efforts. A major investment in leadership training combined with systemic reforms will enable us to develop outstanding principals who can effect fundamental change in our schools. The Partnership's remarkable commitment to support the Leadership Academy demonstrates the business community’s belief that we can improve our schools if we pull together as a City to bring the critical resources and focus to our reform efforts.”

“The future of the city economy depends on a public education system that can produce a top quality workforce,” said Mr. Speyer, Co-Chairman of the Partnership.  “Our commitment to the Leadership Academy is an investment by the business community in the future workforce of the city.”

“Our members believe that the reforms being instituted by Mayor Bloomberg and Chancellor Klein are the city's best hope for a great public school system,” said Mr. Parsons.  “The business community is prepared to demonstrate our commitment to achieving great schools by putting in time and contributing funds to jump start the most important components of the reform effort, including the Leadership Academy.”

The Leadership Academy is central to the Department of Education’s overall effort to create a system of effective schools.  Current projections show that New York City will need nearly 600 new principals within the next three years.  The Leadership Academy is meeting this need by recruiting and developing a new generation of outstanding principals for our City’s schools.  Bob Knowling, Chief Executive of the Leadership Academy, is working with a team of experienced, world-class educators and business experts using practical training programs that combine organizational change management, leadership development and instructional leadership training.  The Academy is an independent 501(c)(3) non-profit corporation and is funded by corporate and philanthropic giving. The Leadership Academy has also received significant financial support from The Wallace Foundation.  The Academy’s first class of principals will begin their training in July. 

The Partnership is a nonprofit membership organization comprised of the chief executives of two hundred of New York City's top corporate, investment and entrepreneurial firms.  Thus far, the Partnership has raised more than half of its total goal of $30 million for the Leadership Academy from its following Partner companies and Partners:  AOL Time Warner; The Bank of New York, Bowne & Co., Inc.; The Hearst Corporation; J.P. Morgan Chase & Co.; KeySpan; News Corporation; New York Life Insurance Company; Russell L. Carson, General Partner, Welsh, Carson, Anderson & Stowe; Mr. Kravis; the Rudin Family; and Mr. Speyer.

The commitment by the Partnership is being coordinated by the Department’s of Education’s Office of Strategic Partnerships under the leadership of Chief Executive Caroline Kennedy.  The Office’s mission is to build financial support for the entire school system and increase corporate and community participation and volunteerism in local schools.  Private donations are received through the Fund for Public Schools, Inc., a 501(c)(3) nonprofit corporation administered by the Office of Strategic Partnerships.