The publication is reproduced in full below:
RECOGNIZING THE WORK OF PETE KADENS AND HIS CHARITY PROJECT, HOPE
CHICAGO
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HON. RAJA KRISHNAMOORTHI
of illinois
in the house of representatives
Wednesday, July 13, 2022
Mr. KRISHNAMOORTHI. Madam Speaker, today I rise to recognize and honor Pete Kadens, an entrepreneur and dedicated philanthropist in Chicago, and the work of his charity project, Hope Chicago. Mr. Kadens' remarkable commitment to transforming lives and communities is worthy of our highest praise.
During his nearly two-decade-long career as an entrepreneur, Pete Kadens employed more than 5,000 people. Following several business successes, including starting SoCore Energy, one of the largest commercial solar companies in the U.S., Pete retired in September 2018, choosing to dedicate himself fully to giving back to all those in need. He currently serves as Chairman of the Kadens Family Foundation, a charitable organization that seeks to address wealth and education inequality.
Among Mr. Kadens' many efforts to give back, Hope Chicago is one project that stands out as a testament to the values of leadership, philanthropy, and selflessness that make America so great. Founded by Pete Kadens and businessman Ted Koenig, the Hope Chicago project aims to raise at least $1 billion over the next decade to fund post-
secondary scholarships and non-tuition costs for graduates of Chicago Public Schools and their adult family members who are eager to return to school and update their own skills.
At a time when we are all fighting to create a more equitable economy and expand pathways into the middle class, removing barriers to educational attainment is critical. This is especially true in light of our nation's student loan crisis, which has saddled far too many Americans with crippling debt and made the prospect of post-secondary education even more out of reach for many low-income, first-generation students. It is estimated that 9 in 10 low-income, first-generation students drop out of higher education without a degree, and in my home state of Illinois, 61 percent of college grads who do earn a degree leave with debt. College is supposed to be a great equalizer in our country. Instead, these statistics provide a picture of higher education that exacerbates inequality between the haves and have-nots across America.
While we face significant challenges in overcoming this issue, leaders like Pete Kadens have committed to doing the hard work needed to create more opportunities for disadvantaged youth to obtain an advanced education. With the support and investment of partner schools and colleges, nonprofits, and corporate and philanthropic donors, Hope Chicago is fostering multigenerational change by working to enable approximately 30,000 individuals in the City of Chicago to go to college or trade school during the next decade. Just this year, Pete announced that Hope Chicago would cover full tuition costs for students at five high schools across Chicago, There is a long way to go, but the spirit of service that inspires this project is already transforming countless lives.
We could all benefit by dedicating our own time and resources to the cause of expanding opportunity for those in need and following the example set by Pete Kadens and Hope Chicago to create an America that prioritizes equitable access to education for all its children. After all, our future depends on it.
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SOURCE: Congressional Record Vol. 168, No. 115
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