The CollegeBound Foundation, a Baltimore-based nonprofit that has helped thousands of Baltimore city graduates attend and complete college, has received its second seven-figure donation in three months.
The latest donation is a $1 million gift from The Cupid Foundation, a charitable organization established by Under Armour founder and CEO Kevin Plank. The gift was announced Friday at CollegeBound's annual scholars luncheon, the Cupid Foundation said in a release.
In May, CollegeBound announced a $3.5 million gift from local philanthropists Mark and Patricia Joseph. It was the largest single donation in the organization's history.
Tom Geddes, CEO of Plank Industries and executive director of The Cupid Foundation, said in a statement that the organization was "thrilled to support the CollegeBound Foundation and all that it's doing for students in Baltimore City."
"CollegeBound has played a vital role in helping tens of thousands of students in our public schools realize their dreams of a college education, many the first in their families to do so, and we are proud to play a role in creating even more opportunities for the future," Geddes said.
CollegeBound has helped more than 60,000 low-income city students pay for college. The 28-year-old organization provides college advisors and need-based funding to students, and operates in 14 Baltimore high schools.
More than 200 Baltimore graduates benefit annually from financial assistance given by the organization, and this year it plans to award 172 scholarships and grants totaling $1.6 million.
Cassie Motz, CollegeBound's executive director, called the Cupid Foundation's donation a "wonderful gift for Baltimore City public school students."
"Thanks to the remarkable generosity of Kevin Plank and the Cupid Foundation, this gift will help more city schools' graduates achieve their dreams of a college degree," she said.