The privately funded foundation that supports services in the City of Kalamazoo got a major boost on Wednesday. Mayor David Anderson announced that the city's Foundation for Excellence has received a $400 million anonymous gift.
The donation brought the foundation's endowment up to its goal of half a billion dollars.
Since 2017, the excellence foundation has lowered property tax rates in the city and covered the cost of programs addressing poverty.
City officials said the new donation means a 40% reduction in property taxes can continue indefinitely.