December 31, 2010

Mandel Family Focused on ‘Giving Back’ to Cleveland

Posted in Philanthropy at 4:19 pm by philanthropynews

While the Cleveland-based Mandel Foundation donates generously to causes in Israel, Florida, and New York, giving back to the founders’ hometown will always be a priority, the Cleveland Plain Dealer reports.

After brothers Jack, Joseph, and Morton Mandel sold their auto parts distributorship, Premier Industrial Corp., in 1996, they poured most of the proceeds into their respective foundations, which collectively had assets totaling $346 million in 2008. But the brothers, through their philanthropies, have been investing in Cleveland for decades — investments that include Neighborhood Progress, Inc., which supports community development corporations, and MidTown Cleveland, which is dedicated to redeveloping the two-mile stretch between downtown Cleveland and University Circle.

(Read more via Philanthropy Digest News.)