Foundation for Detroit’s Future

Foundation for
Detroit’s Future

Purpose

The Foundation for Detroit’s Future is a nonprofit affiliate of the Community Foundation. It was established to assist in Detroit’s emergence from bankruptcy and the restoration of the city’s economic and cultural vitality for the benefit of all residents of the city, region and state.

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Background

The Foundation for Detroit’s Future implements the funding of the DIA Settlement, (commonly known as the “Grand Bargain”) that was negotiated by Federal Mediator the Honorable Gerald E. Rosen and Eugene Driker as part of Detroit’s approved Plan of Adjustment.

A number of foundations that have a longstanding commitment to Detroit’s sustainability, prosperity, and diversity are participating. The provided support will help Detroit emerge from bankruptcy and start rebuilding its economic and cultural vitality. The Foundation for Detroit’s Future is the legal entity through which the foundations and others will provide that support.

The Foundation for Detroit’s Future’s role under the agreement is to collect funds from the participating foundations and other contributors to the DIA settlement and make annual payments to the City for the ultimate support of the pension funds, as provided by the agreements. To ensure accountability, FDF will help monitor the City’s compliance with ongoing grant conditions, including proper pension fund oversight, and provide status reports to the contributing foundations. Additionally, The Foundation for Detroit’s Future will coordinate communications on behalf of the participating foundation funders to ensure accuracy, transparency and compliance with legal requirements.

People

Foundation for Detroit’s Future has a five-member board of directors:

CHAIR

James B. Nicholson, Chair of the Community Foundation

VICE CHAIR

Allan D. Gilmour, Immediate Past Chair of the Community Foundation

PRESIDENT & SECRETARY

Mariam C. Noland, President of the Community Foundation

TREASURER

Robert J. Manilla, Chief Investment Officer, Kresge Foundation

DIRECTOR

Kenneth T. Monterio, Vice President, Secretary and General Counsel of the
Ford Foundation