Loading ...Ford Abandons Detroit: Falling out with the Family
Ford Abandons Detroit (complete series)
Falling out with the Family | Forgetting its Roots | Funding Counterproductive Initiatives in Michigan
Summary: The second largest philanthropic foundation in America emerged in the Motor City. The Ford Foundation was the legacy of one of America’s most famous entrepreneurs—Henry Ford. After giving rise to a booming industry, Ford decided to make provisions for his home city by establishing a charitable foundation and building a hospital. But future generations of trustees ignored his vision for the foundation he endowed. The city that was once the crown jewel of American Industry declared bankruptcy and is rusting away as the Ford Foundation spreads its wealth among progressives whose pet projects only promise to exacerbate the problems plaguing Detroit and Michigan.
The Ford Foundation, born in 1936 from the fortune made in Detroit by one of the true geniuses of free enterprise, Henry Ford, is today America’s second largest philanthropic foundation, with assets of $12.4 billion. Over most of the last 82 years, the trustees snubbed both the city (Detroit) and the principles (free enterprise) that made their charitable work possible.
In 2006, the trustees began to make amends for neglecting Detroit for decades, but there has been no letup in the Ford Foundation’s financing of advocacy against entrepreneurial capitalism. An analysis of its 2015 grants shows at least $50 million went to left-wing political and economic policy organizations.