Chevron Corporation, on Wednesday announced a $1 million donation to the Oakland-based BASIC Fund to aid scholarships for the children of San Francisco Bay Area low-income families. The contribution is in honour of Chevron Chairman and CEO, John Watson who is retiring February 1 after 37 years of service with the company.
The BASIC Fund is a 501(c)(3) organization whose mission is to broaden the educational opportunities for inner-city children by helping low-income families afford the cost of tuition at private schools in the Bay Area.
Chevron’s contribution builds upon a long-term commitment to supporting education in the communities where the company operates, with a particular focus on improving instruction in science, technology, engineering and math (STEM). Working with local partners, Chevron takes a comprehensive approach to education investments. This includes supporting teacher training, providing classroom resources, funding out-of-school activities, and developing partnerships with universities designed to strengthen faculty, curricula and student development.
“Like Chevron, the BASIC Fund believes that increasing access to quality education helps unlock potential and fosters prosperity in our communities,” said Rachel Elginsmith, the BASIC Fund’s Executive Director.
“This is the single largest corporate donation in our organization’s history. Through this support, together we will be able to provide scholarships to 100 children and launch a new business and financial literacy program to support students’ long term-success,” she said.