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May 15, 2006 |
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Frey Foundation Endows First Chair In Family Philanthropy The Michigan-based Frey Foundation awarded a $1.5 million challenge grant to Grand Valley State University in Allendale, Michigan, to establish the nation's first endowed chair focusing on family philanthropy. The chair will be filled by a distinguished scholar-practitioner who will research family foundation formation, management and grantmaking practices, and teach effective operating techniques to foundation trustees. The university must raise the remaining $1.5 million of a $5 million endowment campaign for the university's Dorothy A. Johnson Center for Philanthropy and Nonprofit Leadership. "It is our hope that thoughtful and effective philanthropy will benefit from the skills and focus the new Frey chair can provide," said David Frey, the foundation's board chair. "Few institutions in American life are so vitally important, and so poorly understood, as family foundations," said Joel J. Orosz, interim executive director of the Johnson Center. "The Frey Foundation's bold gift will allow the Johnson Center to identify their keys to success and, most importantly, to find ways to enhance their beneficial impact upon society." More than 32,000 family foundations assist 1.4 million nonprofit organizations in the United States. > More headlines |
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