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The Council of Michigan Foundations (CMF) recently highlighted that TIME named Detroit as one of the world’s greatest places of 2022, noting that the city’s “economic development, greenspaces, waterfront, arts and culture scene and more continue to grow through innovative partnerships and approaches led by Michigan philanthropy.”
Specifically, CMF highlights the work of:
- The Grand Bargain, which WKKF supported in partnership with a coalition of funders, Detroit Institute of Arts (DIA) donors and the State of Michigan. Together, the public/private partners committed $816 million to protect the city’s assets and support its retirees when Detroit filed for bankruptcy in 2013.
- New Economy Initiative, a project of the Community Foundation for Southeast Michigan (CFSEM) and a WKKF grantee, supports entrepreneurial development throughout Southeast Michigan. As CMF notes, “NEI was created in 2007 with a $100 million commitment, and since then NEI has invested more than $120 million in more than 14,000 companies, representing more than 35,000 employees.”
Read more from the Council of Michigan Foundations, which highlights the work of several other Michigan foundations in supporting Detroit’s economic recovery.
Learn More
- “WKKF panel explores how we can better support our workforce for future economic success,” Samantha Meinke, Every Child Thrives, June 1, 2022
- “What do Black and Latino-owned businesses in Detroit need? Access to capital.” Samantha Meinke, Every Child Thrives, March 23, 2022
- “Equitable opportunities for entrepreneurs of color in Detroit,” Every Child Thrives, May 11, 2021
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