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January 14, 2011

Forest City Ratner Foundation in 2009: fewer gifts, with WTC Memorial again the largest, but a first gift to ACORN and much less for Brooklyn Museum

Atlantic Yards Report

The most notable aspect of the latest annual report from the shadowy Forest City Ratner Companies Foundation, regarding donations over the fiscal year ending 1/31/10, is not the absence of contributions to some charities previously supported, such as the Brooklyn Academy of Music and Polytechnic University, both of which got $100,000 in 2008.

Nor is it the disproportionate gift to the World Trade Center Memorial Foundation, $750,000 of $1,035,000 in total giving; after all, in 2008, the foundation got $1,000,000 out of $1,554,500. (Click on graphic to enlarge.)

Nor is it the decision to give $50,000 each to Marty Markowitz's two summer concert series--the Seaside and Martin Luther King series-rather than, as in 2007 and 2008, directing $100,000 to the latter series only.

The ACORN gift

Rather, the most notable aspect is the $100,000 directed to the ACORN Institute in April 2009.

In 2009, the foundation gave $40,000 to the Brooklyn Museum, down from $100,000 in 2005 and 2006, $110,000 in 2007 and $165,000 in 2008. It should be noted that Bruce Ratner was honored by the museum in an April 2008 gala.


Posted by eric at January 14, 2011 10:58 AM