New York Glitz -- to Help Schools

Perhaps I was a tiny bit too harsh in my email (below) on the lack of extreme philanthropy in the hedge fund community.  It certainly stepped up in a big way at the Robin Hood Foundation's annual benefit last week, donating nearly $48 MILLION (nearly half of which went to KIPP!!!!):

Naming rights for a cafeteria, auditorium, gym and other large facilities went for $1 million each. Thirty school classrooms went for $250,000.

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New York Glitz -- to Help Schools

By SALLY BEATTY
June 16, 2006; Page W2

It's known as the Hedge Fund Prom. Beyoncé sang, Jay-Z rapped, and Jon Stewart cracked jokes.

The annual Robin Hood Foundation gala, held Wednesday night, is widely considered the most extravagant event of the New York City charity season, pairing Wall Street money and Hollywood glitz. The gathering of hedge-fund founders, media executives and other A-list players raised $48 million to fight poverty in New York City...