The CollegeBound Foundation, which this year will give grants to some 250 college students from Baltimore City, has begun receiving $325,000 pledged by the Ford Foundation over the next three years to support its operations.
The money is part of an $892,000 grant from Ford to the Baltimore Community Foundation to evaluate programs helping low-income high school students go to college. Some of that money is going to CollegeBound through the Baltimore Community Foundation.
The Baltimore Community Foundation was created in 1972 and is funded with money from businesses and philanthropic organizations.
CollegeBound will use the grant money for in-school college advisers who work with students at 16 schools around the city, said Tom Hooper, director of marketing and development for CollegeBound.
CollegeBound was founded in 1988 by the Greater Baltimore Committee to help city public school students make it to college.
The foundation gives grants ranging from $200 to $2,000 to students who have put together nearly enough money and other aid to pay for college.
This year, the foundation is expected to give college information to some 10,000 students in group meetings and work one-on-one with about 700 students interested in college. It also expects to give out about $233,000 in grants to college students.
Earlier this year, CollegeBound officials had voiced concern about the effect of low interest rates on income from its endowment, which currently includes about $7 million in paid pledges.
"The Ford money goes a long way toward helping that," said Mr. Hooper.