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Ilitch Charities Invests $50,000 in Innovative Community Programs
Date:4/1/2008

New Name Signals Expanded Mission to Include Economic Development Stimulus

as Means to Address Social Issues

DETROIT, April 1, 2008 /PRNewswire/ -- Ilitch Charities for Children Chairman Christopher Ilitch today announced a total of $50,000 in grants to the Detroit Renaissance Foundation ($25,000) and the United Way of Southeastern Michigan ($25,000) for innovative community programs, demonstrating a broader scope for the charitable organization. In addition, Ilitch announced that effective immediately the 501(c)(3) organization is renamed Ilitch Charities in recognition of its expanded mission.

"We recognize the importance of being a good corporate citizen. Giving back has been a core value of the Ilitch companies for nearly half a century and is evidenced by our investments and support of this community in an effort to make it a better place for all," explained Ilitch. "We believe that broadening the Ilitch Charities mission to include a focus on economic development will allow us to address not only short-term needs, but support longer-term efforts that will result in increased jobs and an improved economy, which we believe attacks many social issues at the root. This approach, we believe, has the potential to cure problems, versus temporarily fixing them."

The new Ilitch Charities will invest in the community's future by supporting innovative, collaborative and measurable programs that promote economic development and spur job growth, which is a means to address social issues such as poverty, unemployment, homelessness, and hunger. The organization will fund programs that improve the well being of individuals in areas such as human services, job creation, education and recreation.

$50,000 in Grants

The first grant is a $25,000 contribution to the Detroit Renaissance Foundation toward the establishment of the Creative Economy Investment Fund. After in-depth research, Detroit Renaissance determined that
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SOURCE Ilitch Charities
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