Someone is taking the term "angel investor" to heavenly new heights.
The San Francisco Foundation has announced a $34 million donation to Oakland on behalf of an anonymous donor.
"The investment focuses on scaling proven solutions to ensure Oakland will be a city of opportunity in which all residents can participate in, prosper, and reach their full potential through closing the achievement gap, affordable housing, creating cradle-to-career pathways of opportunity, growing middle wage jobs, and removing barriers to health access for parents and children across the city," representatives for the nonprofit organization wrote on Tuesday.
The donation will power partnerships with the Oakland Unified School District, the Alameda County Public Health Department, and the Mayor’s Office as well as 15 community organizations including Youth Uprising, East Oakland Youth Development Center, East Bay Asian Local Development Corp, and Hidden Genius Project.
Inside Bay Area reported that the donation, nearly one-third of which will be earmarked specifically for East Oakland, came to The San Francisco Foundation through a cold call.