Reed Hastings took to Facebook Tuesday to announce that he would be personally funding a new $100 million philanthropic fund, focusing exclusively on education-related projects and organizations.
The mission on the website’s homepage details a commitment to enhancing the educational experience of children.
Currently, too many children do not have access to amazing schools. Our aim is to partner with communities to significantly increase the number of students who have access to rich and holistic educational experiences.
The fund, called the Hastings Fund, will be kicking off its giving with two gifts totaling $1.5 million for the United Negro College Fund and the Hispanic Foundation of Silicon Valley in order to help “support college education of Black and Latino youth,” Hastings said in the post.
Hastings said that Neerav Kingsland will be leading the Hastings Fund as CEO.
On his personal blog, Kingsland noted that he felt “very grateful to be working with such extremely thoughtful philanthropists.” Kingsland will continue to work with the Laura and John Arnold Foundation where he has served as a Senior Education Fellow since July of last year.
“There are a lot students in this country who don’t have access to amazing schools,” Kingsland continued. “Hopefully, this can change.”