Mayor Bloomberg Commits $60-Million to New York Charities
June 13, 2008 | Read Time: 1 minute
Michael R. Bloomberg, the mayor of New York City, has given $60-million from his personal fortune to support hundreds of arts and social-service organizations over the next two years, reports The New York Times.
Mr. Bloomberg asked the Carnegie Corporation of New York to distribute the money. In addition to grants, the 542 beneficiaries will also receive guidance and training on managing their organizations.
The recipients include small community groups and large well-known institutions, including the YMCA of Greater New York, Cooper-Hewitt Museum, Batoto Yetu, an African dance center in Harlem, and Highbridge Voices, an after-school choir program in the Bronx.
Mr. Bloomberg, who since 2002 has given away about $175-million to New York groups through the Carnegie Corporation, is creating the Bloomberg Family Foundation, which may take over distributing the grants once he is out of office, the newspaper says.
Mr. Bloomberg ranked No. 7 on The Chronicle’s Philanthropy 50 list of the nation’s most-generous philanthropists.
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