The philanthropic arm of Texas Instruments (TI) is investing $5.4 million to improve the US public education in science, technology, engineering, and math (STEM). Previously known as Power of Stem Education (POSE), the grants will be divided among several nonprofit partners and educators from communities across the country where the foundation has a leading manufacturing presence, including California, Maine, and Texas.
The organization will focus on primary and secondary school programs that offer opportunities for female students and minorities, whose academic achievements in the STEM subjects have room to grow, writes Holly Haber of the Dallas News.
Andy Smith, the executive director of TI Foundation and TI director of corporate philanthropy in the company, commented:
"Our focus is on collaborative strategies to improve and develop teaching effectiveness and student's better performance in STEM education nationwide. We seek out hard-working partners who share our goals, make strategic investments and develop long-term relationships with teachers and their organizations to support proven, successful programs that can be scaled and replicated across the country. Working together, we believe all our students can move forward and experience greater results in STEM."
As Sri Ravipati of THE Journal notes, the lion's share of the POSE grants will go to North Texas. The local Southern Methodist University will spend $1.7 million to train Dallas Independent School District middle school teachers over the course of the next four years. Teach for America will receive the second largest grant of $1.3 million to cover the professional development of math and science educators from Dallas ISD and Uplift Education schools.
The National Math and Science Initiative (NMSI) is the recipient of the third largest grant at $1.1 million. NMSI will use it to train teachers from Garland Independent School District and Uplift Education high schools in Advanced Placement courses.
Other parts of the funding will go to Teaching Trust; Lancaster, Mesquite, Plano and Richardson school districts; the University of San Antonio; the National Alliance for Partnerships in Equity; and other nonprofit organizations and educators across North Texas.
TI and TI Community Fund will also invest about $550,000 in programs that improve employee engagement, such as volunteering and mentoring students, reads the official press release. Several Bay Area organizations in California such as Breakthrough Silicon Valley and We Teach Science will receive grants to establish partnerships and advance training. TI will also finance two collaborative programs between Maine's two largest school districts. With a strong focus on minority and female students, they will establish a STEM academy for grades 8-10.
Texas Instruments Incorporated is a leading manufacturer of semiconductors. It also develops analog ICs and produces embedded processors. Many of the brightest minds in the world work for Texas Instruments to innovate and shape the future of technology.
As news about the funding broke, the company was trading down 0.28 percent from the previous day's close. Texas Instruments also announced a dividend for shareholders that was paid on May 16th. The payment was $0.380 per share for the quarter or $1.52 on an annualized basis, writes Ted Blackburn of Finance Daily.