Shortly before he died last year at age 72, Ford administration Treasury secretary William E. Simon designed a major program devoted to the cause of private charity, one of his lifelong concerns. Administered through the 34-year-old foundation that bears his name, Simon's final project made its initial mark last week.
The first annual William E. Simon Prize in Social Entrepreneurship was awarded to investment banker Peter Flanigan for his work as principal founder of the Student/Sponsor Partnership, a nonprofit agency providing financial aid and mentoring services to disadvantaged students attending private schools. The first annual William E. Simon Prize in Philanthropic Leadership was awarded to John Walton, an investor and Wal-Mart director, for his work in a series of private-school scholarship initiatives directed at children from low-income families. Each prize is worth $ 250,000.
Honorees Flanigan and Walton have both helped thousands of deserving students escape dysfunctional and reform-resistant inner-city school systems. THE SCRAPBOOK joins the William E. Simon Foundation in applauding them.