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Kalamazoo Creates Its Own Endowment
Summary by Michigan Municipal League
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Kalamazoo Creates Its Own Endowment
In 2017, the City of Kalamazoo announced the creation of an unusual public–private partnership called the Foundation for Excellence (FFE), established through an anonymous $500 million donation intended to support long-term investment in Kalamazoo. “The gist is, picture an endowment for a university—we’re an endowment for a municipality,” says Steven Brown, the Foundation’s Executive Director. “It came from the same place that most innovation co…
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