Orange County Business Journal
Henry Nicholas, cofounder and former chief executive of Irvine chipmaker Broadcom Corp., is set to give $10 million to start after-school programs for low-income students.
The money is slated to build and operate the Nicholas Academic Center at 412 W. Fourth St. in Santa Ana. The center will serve 60 students from Santa Ana Unified School District high schools.
The center will provide transportation to and from area high schools, be equipped with state-of-the-art technology and be staffed by teachers and counselors.
Nicholas’ foundation is finalizing plans with the Episcopal Diocese of Los Angeles to open similar centers in San Juan Capistrano and the Echo Park section of Los Angeles.
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In addition to the academic centers, Nicholas’ foundation in partnership with the Episcopal Diocese of Los Angeles plans to open “entrepreneurial centers” to provide inner-city businesses in the food services industry with facilities, accounting expertise, training and distribution channels.
The Security and Exchange Commission is reportedly continuing to build a case against Nicholas and others over backdating of options at Broadcom. Read an earlier report on Broadcom here.