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The NonProfit Times

The NonProfit Times
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Does #MeToo Need Time's Up? 'This Isn't the Movement'

Does #MeToo Need Time's Up? 'This Isn't the Movement'
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Funding Dan Gilbert's $500M initiative through stocks not uncommon, nonprofit leaders say

The move this week by Dan Gilbert and his Rock Holdings Inc. to sell shares in Rocket Companies Inc. to raise $500 million to support Detroit neighborhoods is a common practice in philanthropy, experts say.
“It’s not unique,” said Kyle Caldwell, president and CEO of the Council of Michigan Foundations. “Some of our more storied foundations across the country and even in our backyard in Michigan have been developed through the selling of stock.”
When Charles Stewart Mott died in 1973, Caldwell noted, he was a large holder of General Motors stock. The sale of stock helped fund an endowment for the C.S. Mott Foundation, one of Michigan s leading foundations that participated in the grand bargain to speed Detroit s exit from Chapter 9 bankruptcy. ....

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Foundations pursue racial justice in philanthropy - Grand Rapids Business Journal

Foundations pursue racial justice in philanthropy - Grand Rapids Business Journal
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Debate amid pandemic: Should foundations have to give m...

Debate amid pandemic: Should foundations have to give m...
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