Newswise - The tremendous power of some 32,000 charitable family foundations and their billions of grant dollars will begin to be harnessed more effectively thanks to the establishment of the nation's first endowed chair focusing on family philanthropy. The Frey Foundation is pledging $1.5 million to Grand Valley State University's Dorothy A. Johnson Center for Philanthropy and Nonprofit Leadership to establish this chair which will lead to a pioneering program of study on family foundations and how they are led and managed to help society.
'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.'"
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