FIS Announces Five-Year Sponsorship of KIPP School
FIS commitment helping to open first-ever KIPP charter school in Florida
JACKSONVILLE, Fla., August 19, 2010 - FIS™ (NYSE: FIS), one of the world's largest providers of banking and payments technology, today announced that it will serve as a five-year sponsor of Florida's first-ever Knowledge is Power Program (KIPP) charter school, which is opening as the KIPP Impact Middle School in Jacksonville, Fla. for the 2010-11 school year.
KIPP, the Knowledge Is Power Program, is a national network of free, open-enrollment, college-preparatory public schools with a track record of preparing students in underserved communities for success in college and in life. Nationally, more than 90 percent of KIPP middle school students have gone on to college-preparatory high schools, and over 85 percent of KIPP alumni have gone on to college. Like all Florida charter schools, the KIPP Impact Middle School is a public school and is open to students who live in the Jacksonville area.
Two local businessmen and a community volunteer have led the way to bring KIPP to Jacksonville. The group includes John Baker, president and chief executive officer of Patriot Transportation Holding, Inc., Gary Chartrand, executive chairman of Acosta, Inc., and Jane Vance, former director of Jacksonville Advocates for KIPP Schools, a group of community leaders that lobbied to bring KIPP to Jacksonville. All expressed their enthusiasm for this new partnership. “FIS, one of the country's leading financial services providers, shares KIPP's commitment to closing the achievement gap in public education,” said Baker. “We are pleased to partner with FIS as we help to expand KIPP's unique program to Jacksonville.”
“We expect that FIS' sponsorship of this charter school will have a positive influence on public education in the region, as well as the surrounding community,” said Tom Majdanics, executive director of KIPP Jacksonville Schools. “The success of KIPP schools throughout the country is in line with FIS' own reputation for excellence and makes us ideal partners for this venture. The educational success of young people in our city is critical to the future of our community.”
All KIPP middle schools start with fifth grade and add one grade per year until becoming a fifth-through-eighth grade public middle school. KIPP Impact Middle School will initially serve approximately 92 fifth-grade students who were chosen through a lottery system. KIPP officials plan to open a total of five KIPP schools in Jacksonville over the next seven years.
KIPP schools differ from a typical public school in many ways. One significant difference is the amount of time a student spends in school. On weekdays, students and teachers arrive no later than 7:20 a.m. and stay until 5 p.m. KIPP schools hold classes every other Saturday and for 2-3 weeks during the summer. Another differentiator for students who attend KIPP is the hour each day dedicated to music and physical education classes.
“KIPP has demonstrated a high level of success with its innovative approach to providing a high-quality public education in communities throughout the United States,” said Gary Norcross, chief operating officer at FIS, who will also serve on KIPP's board of directors. “We are excited to serve as a sponsor and partner with KIPP to help make a difference in Jacksonville. This partnership exemplifies one of our most important corporate guiding principles, community involvement. FIS' sponsorship will serve as a necessary foundation for the school's long-term success.”
Currently, more than 26,000 students are enrolled in 99 KIPP schools located in 20 states and Washington, D.C. To learn more about KIPP schools, visit www.kipp.org.
FIS delivers banking and payments technologies to more than 14,000 financial institutions and businesses in over 100 countries worldwide. FIS provides financial institution core processing, and card issuer and transaction processing services, including the NYCE Network. FIS is a member of Standard and Poor's (S&P) 500 Index and consistently holds a leading ranking in the annual FinTech 100 rankings. Headquartered in Jacksonville, Fla., FIS employs more than 30,000 on a global basis. FIS is listed on the New York Stock Exchange under the “FIS” ticker symbol. For more information about FIS see www.fisglobal.com.
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