In 1992, USC President Steven B. Sample started five initiatives that focused the University on improving the surrounding neighborhoods. Today, the USC invests $35 million annually to support community initiatives, which serve 40,000 area residents. Its efforts includes the USC Neighborhood Academic Initiative, an intensive college prep program that sends 100 percent of its students to college with nearly half getting full-tuition scholarships to USC; the Family of Schools program, which supports 15 neighborhood elementary, middle and high schools; and business programs credited with helping 60 small business owners obtain $61 million dollars in capital, contracts and loans. Moreover, its local hiring initiative is credited with funneling $5 million in annual salaries back into the neighborhood.