Summary
Local nonprofit organizations said Tuesday they're excited about increased funding promised with Bank of New York's acquisition of Mellon Financial Corp.
The merger will create a new Mellon Financial Foundation, formed with $20 million from the $60 million existing foundation, plus $60 million in new money, with all funds dedicated to grant-making in Southwest Pennsylvania.See the full content of this document
Extract
Mellon Takeover to Boost Nonprofits
With $80 million in assets, the new Mellon foundation immediately becomes one of the largest in Pennsylvania. According to The Foundation Center's annual survey, Me...
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