Through The Broad Prize for Urban Education and The Broad Prize for Public Charter Schools, the Foundation sought to recognize excellence among school systems serving significant numbers of students of color and low-income students–and to encourage them to collaborate and share best practices. From dozens of eligible systems, the Foundation selected between three and five finalists and chose one winner of each prize annually at a celebratory event. Prize money totaling $20 million went to support college scholarships and college readiness programs. Both prizes were officially sunsetted in 2019.