Detroit Foundations Give at Least $330-Million to Save Museum’s Art Collection
CHRONICLE OF PHILANTHROPY
By Suzanne Perry
MICHIGAN---A group of local and national foundations has agreed to contribute more than $330-million to protect the Detroit Institute of Arts collection and help pay for city retiree pensions as part of Detroit’s bankruptcy settlement, according to a statement issued today by bankruptcy mediators. They added that the presidents of the Ford Foundation, the John S. and James L. Knight Foundation, the Kresge Foundation, and the Community Foundation for Southeast Michigan will serve on a leadership committee that will coordinate the philanthropic effort. Other grant makers that have made pledges include the William Davidson Foundation, the Fred A. and Barbara M. Erb Family Foundation, the Hudson-Webber Foundation, the McGregor Fund, and the Charles Stewart Mott Foundation. [link]
By Suzanne Perry
MICHIGAN---A group of local and national foundations has agreed to contribute more than $330-million to protect the Detroit Institute of Arts collection and help pay for city retiree pensions as part of Detroit’s bankruptcy settlement, according to a statement issued today by bankruptcy mediators. They added that the presidents of the Ford Foundation, the John S. and James L. Knight Foundation, the Kresge Foundation, and the Community Foundation for Southeast Michigan will serve on a leadership committee that will coordinate the philanthropic effort. Other grant makers that have made pledges include the William Davidson Foundation, the Fred A. and Barbara M. Erb Family Foundation, the Hudson-Webber Foundation, the McGregor Fund, and the Charles Stewart Mott Foundation. [link]
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