Ford Foundation commits $25M to Detroit, $75M more possible

Ford Foundation has pledged $25 million to an economic development fund that the Community Foundation for Southeast Michigan is quietly assembling -- and may reach $100 million when complete.

Excerpt:

William Hanson, director of communications and technology, declined to comment on the economic development fund the Community Foundation is pulling together but said, “Michigan philanthropy can bring significant resources — both financial and intellectual — to the table, so it makes a lot of sense for foundations to consider collaborating on critical issues.”

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