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In an effort to raise the quality of teaching and learning in schools, The Wallace Foundation is investing $30 million over five years to help 14 urban school districts improve the effectiveness of their principal supervisors.

Alan “Ace” Greenberg, the former head of Bear Stearns, who raised hundreds of millions for the UJA-Federation of New York over his decades of involvement with the organization, and who instilled the importance of giving to charity in his employees,...