At least $1.4 million raised for Open Society Institute

Soros will give $10 million if locals meet funding goal

Even before he arrived at City Hall yesterday to make official his $20 million challenge to Baltimore, billionaire George Soros was a tad closer to raising the funds needed to keep the local office of his Open Society Institute going. At least $1.4 million has been raised - most of it from the Annie E. Casey Foundation - since the campaign was announced last month.

Soros, who opened OSI-Baltimore in 1998 with the goal of studying urban ills and solving them, has promised to pledge $10 million of his own money if locals can meet his challenge to raise $20 million. He has said that he doesn't want to see the office close but believes that locals must contribute. Soros' OSI network extends worldwide and mainly focuses on nurturing democratic governments. Baltimore's office is unique because it deals with urban problems.

"The idea was very simply to demonstrate that it is possible to turn around a city that was sinking and make it rise," Soros said at a news conference with Mayor Martin O'Malley that included several people who received grants from OSI and wanted to thank Soros. "I think that after seven years we are beginning to see some results. ... I think the city is generally rising."

OSI has been promoting programs to improve education, drug treatment and job creation in the city for about seven years, but its initial funding - $50 million from Soros - is set to run out in December. Soros has not set a deadline for raising the funds, but at least some of the funds must be raised by the end of the year to keep the office open, said Diana Morris, executive director of OSI-Baltimore.

"Our approach is that we can serve as a catalyst, but we must have public investment," Morris said. "I'm very aware that $20 million is a lot of money to raise, but I'm optimistic."

Soros arrived in Baltimore on Wednesday, and much of his visit has been spent talking with people who have the resources to make a major contribution. If OSI-Baltimore gets the money it needs to stay open, it will focus on three areas: helping youth succeed and stay out of prison, helping adults who have been incarcerated rejoin their families and find careers, and tackling drug addiction. The group will also continue to fund community fellowships.