Three of the biggest names in education philanthropy have teamed up to fund a new organization aimed at dramatically improving outcomes for Black, Latino, and low-income students.

The Advanced Education Research & Development Fund, announced Wednesday, is already funded to the eye-popping tune of $200 million from the Bill and Melinda Gates Foundation, the Chan Zuckerberg Initiative, and the Walton Family Foundation. (Gates and Walton are also supporters of Chalkbeat.)

AERDF (pronounced AIR-dif) says its focus will be on what it calls “inclusive R&D,” or bringing together people with different expertise, including educators, to design and test practical ideas like improving assessments and making math classes more effective. Still, the ideas will have “moonshot ambitions,” said the group’s CEO Stacey Childress.

“One of our

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