April 26, 2004

Fund aims to raise $15M for CPS

One year after finishing a $10-million funding drive to benefit the Chicago Public Schools, the Chicago Public Education Fund has raised $8 million for a new fund to aid the city school system. Its target is $15 million.

The group’s new drive received $2 million from the Pritzker Foundation, as well as $1 million apiece from the Citadel Group Foundation and Chicago Tribune Charities. Penny Pritzker, Chicago Tribune Publisher Scott C. Smith and Citadel Investment Group LLC President Kenneth C. Griffin all are members of the fund’s board.

The funds are intended to be used to improve the way the school system recruits, deploys and rewards teachers and administrators, according to a fund spokesman.