"I was struck by an interesting story that came out of Memphis, Tennessee," the president said in his speech. "Ten years ago private donors gave approximately $15 million to the church in Memphis to help revive Catholic schools in the city's poorest neighborhoods. Assets exist; they're worried about them going away. So rather than just watch schools close, somebody -- individuals -- did something about it by putting up $15 million.
"With the seed money, the diocese launched the Jubilee Schools initiative, and reopened Catholic schools that had been shuttered, actually in some cases, for decades. Today, 10 Jubilee schools serve more than 1,400 students. Eighty-one percent of these children are not Catholic; nearly 96 percent live at or below poverty level….