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July 30, 2015

Mich. and N.Y. Funds to Help Foundation Donate $1.4 Billion

The Ralph C. Wilson Jr. Foundation, which last week announced plans to spend down its $1.4 billion in assets in 20 years, has chosen community funds in the Detroit and Buffalo regions to help guide its grant making, The Detroit News writes.

The Community Foundation for Southeast Michigan and the Community Foundation for Greater Buffalo will provide local insight and help the Wilson organization link up with other regional funders.

The Wilson Foundation grew exponentially last year with a $1 billion windfall from the sale of the Buffalo Bills football team by Ralph C. Wilson's estate. Mr. Wilson, a Detroit native who died last year atage  95, owned mining, manufacturing, insurance, and other businesses along with the NFL team. He directed that proceeds from the Bills sale primarily support charitable work in the Detroit and Buffalo areas. The foundation's long-term grant cycles will begin next year.