Bill and Lisa Ford to raise $10M for Detroit youth nonprofit endowments

Published March 19, 2024 4:05 AM

By THALIA BEATY
Associated Press

Bill Ford, executive chairman of Ford Motor Co., and his wife Lisa Ford are raising $10 million to help ten Detroit nonprofits serving young people start endowments. Lisa Ford said Tuesday that the campaign comes alongside Ford’s investment in the refurbishment of the long abandoned rail station in Detroit, Michigan Central Station. When the train station reopens in June, applications will also open for nonprofits to apply to receive $500,000 to establish an endowment. Endowments are funds that the nonprofit can invest. The annual financial returns from those investments can go into the nonprofit’s budget.

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