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July 22, 2015

Wilson Fund to Spend Down $1 Billion Windfall in 20 Years

The Ralph C. Wilson Jr. Foundation, which saw its assets spike from $4.8 million to $1.2 billion last year with the sale of its late founder's NFL team, plans to spend down its holdings over the next two decades, according to The Buffalo News.

Mr. Wilson, the longtime Buffalo Bills owner who died in March 2014, bequeathed $1 billion to the foundation, the biggest individual gift of last year.

The foundation was slated to formally announce its long-term plans Wednesday. Mary M. Wilson, Mr. Wilson's widow, said of the 20-year time frame that her husband "saw first hand the impact of his generosity in his lifetime" and wanted his fortune to have "a direct impact in the lifetimes of those who knew him best." Foundation officials have said that the organization's grant making will focus on Buffalo, Mr. Wilson's hometown of Detroit, and their surrounding regions.