BOSTON, June 29, 1999 — Marking one of its first community donations of settlement money from a software theft case, Microsoft Corp. today announced that it will donate $50,000 of restitution fees from the Crazy Bob’s case to the Boston Chapter of the National Foundation for Teaching Entrepreneurship (NFTE). William Simons, general manager of Wakefield, Mass.-based discount computer store Crazy Bob’s, was sentenced earlier this month in U.S. District Court in Boston after pleading guilty to reselling nearly $20 million worth of stolen Microsoft® software in California and Great Britain from 1994 to 1997.
“Microsoft has been a valued supporter and friend of NFTE for many years, enabling us to offer many of the programs that have enriched the lives of thousands of urban young people,”
said Ted Tyson, New England division director of the National Foundation for Teaching Entrepreneurship (NFTE).
“With today’s donation from Microsoft, we hope to bolster the effectiveness of our BizTech online curriculum and strengthen our partnerships with schools and community groups to inspire low-income teens to gain economic self-sufficiency through entrepreneurship.”
In related news today, Microsoft announced that the company expects to give over $25 million in donations – at least $5 million a year for the next five years – from settlement recoveries and judicial awards related to software piracy. Microsoft will donate the money to a variety of nonprofit organizations to provide increased access to technology in communities throughout the world.
“Microsoft is proud to be able to channel money derived from lawsuits against illegitimate software distributors back into community organizations that teach young people sound business practices,”
said Mike Kosek, general manager, Microsoft New England district.
“This augments our ongoing effort to create access to technology for the underserved populations within New England.”
NFTE has spearheaded several programs that specifically benefit Boston-area teens. Through in-school, after-school and summer programs, students learn how to apply the fundamentals of finance, economics, marketing and technology to the real world of business while cultivating a sense of self-sufficiency. NFTE programs are an integrated part of the accredited curriculum in Boston public schools, constituting the most advanced coursework in entrepreneurship in any public school in the country.
BizTech is an online learning system that NFTE is hoping to incorporate as another fundamental element into the Boston public school curriculum. The program teaches entrepreneurship, information technology and workplace concepts through a specialized Internet-based course that uses state-of-the-art features to turn textbook chapters and written quizzes into a rich, interactive educational experience. Students ultimately apply what they have learned in the course to create their own original, viable business plans.
The National Foundation for Teaching Entrepreneurship Inc. is an international nonprofit organization that introduces low-income teens from local communities to the world of business and entrepreneurship by teaching them how to develop and operate their own legitimate small businesses.
Founded in 1975, Microsoft (Nasdaq
“MSFT”
) is the worldwide leader in software for personal computers. The company offers a wide range of products and services for business and personal use, each designed with the mission of making it easier and more enjoyable for people to take advantage of the full power of personal computing every day.
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