The Eli and Edythe Broad Foundation has announced Miami-Dade County Public Schools in Florida as the winner of the 2012 Broad Prize for Urban Education, the largest education prize in the country.

Created in 2002, the annual prize honors large urban school districts that demonstrate outstanding performance and improvement in student achievement while reducing gaps for poor and minority pupils. Miami-Dade, the fourth-largest school district in the nation, will receive $550,000 for college scholarships for seniors graduating next spring, while the three other finalists in the competition — the Corona-Norco Unified School District in California, the Houston Independent School District in Texas, and the School District of Palm Beach County in Florida — will each receive $150,000.

A five-time finalist, Miami-Dade was awarded this year's prize because it outperformed other "peer districts" in Florida at all school levels and across all subject areas; saw the percentage of Hispanic students performing at the highest achievement levels rank in the top 30 percent statewide in 2011; increased overall student participation and scores on the SAT exam; experienced 2011 ACT and AP participation rates in the top 30 percent of Broad-Prize eligible districts for all students and among African-American and Hispanic students; and raised graduation rates for minority students by 14 percent from 2006 to 2009, or more than 4 percent per year on average, to 57 percent for African-American students and 68 percent for Hispanic students.

"What is encouraging about Miami-Dade is its sustainable improvement over time," said Eli Broad. "Their gains are a testament to the hard-working teachers, administrators, and parents who have embraced innovative new methods to modernize schools and ensure that students of all backgrounds get the support they need. There is still a long way to go before all American students graduate with the skills and knowledge they need to thrive in a global economy, but Miami-Dade's progress serves as an example for other urban districts across the country."