With a few short words Ted Kaye, CEO of the Las Positas College Foundation, rocked the campus. Two separate donors are making an investment into the school through the foundation to a total of at least $1.7 million.
For Kaye, this “signifies that the foundation is coming of age.”
One portion, $500,000, is currently in a handshake deal with a Stanford graduate. The donor will not be named by the foundation until the deal is finalized. Currently the plan is to give $100,000 per year for five years to the Child Development Center.
The CDC was in danger of being shut down due to cutbacks just eight months after it opened in October 2011. With this money coming in, it has been given a whole new life.
“When they go into school they will have the opportunity to have a first class pre-school,” said Kaye.
The other portion, $1.2 million guaranteed, is currently in a planned estate sale in the will of a local couple. The couple, who asked not to be named, are friends of Kaye’s. He said that the couple wants the college to be taken care of when they pass.
“I know that we appreciate whether it is $5 or $50,000,” said Kaye. “It really is terrific when people can pay it forward to the next generation.”