Written by Ryan Beene

The Detroit Public Schools officially launched the DPS Foundation today, naming Chacona Johnson, former University of Michigan associate vice president for development, as its CEO.

As first reported in the Aug. 8 edition of Crain’s, the DPS Foundation is an independent nonprofit that will solicit outside funding for DPS programs like athletics, fine arts and other school improvement initiatives.

The foundation will begin with about $2.1 million in start-up funding. The total includes $1 million from an anonymous donor, $1 million in matching funds from the DPS and $100,000 from PNC Bank to support early childhood education in the district through it’s 10-year, $100 million Growing Up Great initiative.

An independent board will oversee the spending of donor money, while Chacona Johnson will direct the day-to-day operations of the foundation as president and CEO. The board is chaired by Leroy Richie, of counsel with Detroit-based Lewis and Munday P.C.

Emergency Financial Manager Robert Bobb told Crain’s in late July that the foundation would manage an endowment funded by money raised from alumni, corporate, institutional and individual donors.

Read the entire article at Crain’s Detroit Business