DETROIT – Nonprofits that provide services to children and families in Metro Detroit can now apply for one of 10 endowments that can exceed $500,000.
Leaders at Michigan Central Station are partnering with the Children’s Foundation to offer 10 endowments to youth-serving organizations in and near Detroit. Starting Monday, July 1, eligible nonprofits can apply for the endowments, which consist of a “$500,000 permanent endowment established for their benefit at the Children’s Foundation with another $500,000 available that will match dollar-for-dollar up to $500,000 toward the endowment over the next two years,” a press release reads Monday. “This will give each organization the opportunity to build at least a $1.5 million endowment by the end of 2026.”
Eligible nonprofits include those providing basic health needs, education, social programs, and more to people up to 24 years old and their families, officials said. To qualify, organizations must serve communities within a 15-mile radius of Michigan Central Station in Corktown, and must not have a fiscal sponsor.
Click here to learn more about eligibility requirements, and to apply.
Applications must be submitted by Aug. 1. The application process will happen in two phases, officials said. Organizations chosen by the selection committee will be announced in January.
The Michigan Central Station Children’s Endowment reportedly raised $19 million instead of their $10-million goal for the initiative. Organizations selected to receive endowments will also have access to an unrestricted grant, funding for technical assistance and infrastructure, a “cohort learning experience,” and more.
Bill Ford, executive chairman at Ford Motor Co., and his wife Lisa launched the initiative “in honor of the reopening of the iconic station,” officials said Monday. Michigan Central Station reopened to the public in June after six years of renovations.