By DREW LINDSAY of The Chronicle of Philanthropy, Chronicle of Philanthropy
It began with a highly unusual offer from two business executives — who both have billions in wealth — to bankroll a distressed city government. Five years later, the marriage of government and philanthropy born of that $70 million gift looks as though it will last forever.
Kalamazoo, Michigan, officials gathered on the steps of their nearly century-old, Art Deco city hall on Wednesday to announce an anonymous commitment of $400 million to an endowment established in 2017 to spin off annual revenues for the city indefinitely. The Kalamazoo