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January 20, 2015

Ford Foundation Pledges $10-Million More for Detroit

The Ford Foundation, the largest private financial backer of Detroit's "grand bargain" rescue fund, has committed an additional $10-million in grants to the city for this year, writes The Detroit News. The pledge comes on top of $1.3-million in Ford grants announced in December and the foundation's $125-million contribution to the grand bargain.

Foundation officials said the new funding reflects efforts to seize the momentum created by Detroit's bankruptcy resolution last fall and focus on the city's next chapter. The grants aim to boost community engagement, grass-roots revitalization efforts, and organizations addressing income inequality across city neighborhoods. Founded in Michigan but now based in New York, the foundation has significantly ramped up its Michigan giving since the mid-2000s.

Read a Chronicle of Philanthropy article on Ford President Darren Walker's priorities for the nation's second-largest foundation.