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8:43 PM / Thursday May 13, 2021

15 May 2011

Councilwoman Reynolds Brown recognizes the 10th Anniversary of the Fund for Children

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May 15, 2011 Category: Local Posted by:

In 2001, the Fund for Children was established after negotiations, led in City Council by Councilwoman Reynolds Brown during the legislative process for new stadiums, resulted in $60 million in new funding contributed by The Philadelphia Phillies and The Philadelphia Eagles over a 30 year period to benefit the children of Philadelphia.

 

In November 2000, Philadelphia City Council, led by the vision of Councilwoman Blondell Reynolds Brown decided that the funds would be awarded to programs and groups that reach the city’s most underserved children and youth. “The provision states that each team will contribute $1 million per year, for 30 years, to a children’s fund.

 

Those dollars will be spent on and restricted to after school programs, early childhood programs, arts and culture programs, parenting workshops and athletic programs. The sports teams’ contributions will help to leverage a city-wide effort to improve the quality of life for children living in Philadelphia’s neighborhoods.” stated Councilwoman Reynolds Brown at the time.

 

Recognizing, The Philadelphia Foundation’s community driven mission and track record of investment and managing charitable funds, the City entrusted the Foundation to not only administer the funds, but to determine the best way to make the money work for the community.

 

In April 2001, The Board of Managers of The Philadelphia Foundation established the Fund for Children to accept contributions from the City of Philadelphia associated with the leases on the stadiums occupied by the Philadelphia Eagles and the Phillies.

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Each team is obligated by the terms of their respective leases and by City Council Ordinances No.721-A and No.722 to provide $1 million annually for a period of 30 years. The money is transferred to the Fund for Children to be administered by the Foundation. Since 1918, The Philadelphia Foundation has linked those with financial resources to those who serve societal needs.

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