Financier Pledges Millions for Schools

Eli Broad, chairman of the SunAmerica financial-services company, has set aside $100-million to strengthen the nation’s urban school districts.

The money will be funneled into the Broad Foundation, which Mr. Broad established in Los Angeles last year. The schools program is in the formative stage, but Mr. Broad hopes to have more details worked out by the end of the year, said Sibyll Carnochan, a consultant hired by Mr. Broad.

So far, said Ms. Carnochan, priorities for the fund include tackling a shortage of principals and superintendents, working with teachers’ unions to improve relations between workers and management, and establishing programs to train administrators.

Mr. Broad has personal assets that are estimated to be worth $4-billion.