Monday, January 4, 2010

$747 Million Gift to William Penn Foundation

In more positive funding news, the William Penn Foundation announced last week that John C. Haas has given the foundation $747 million to further its mission of improving the quality of life in the Philadelphia region. You can read the press release here.

Haas' parents established the foundation in 1945, and John chaired the board for more than 30 years. His son David has chaired the board since 1998.

The foundation reports that the $747 million gift came after a "re-organization of the Haas Trusts reflecting the evolution of the family and its charitable interests." The foundation's board of directors plans to phase in increases to its grants budget.

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