The Community Foundation of Middle Tennessee has announced its first major donation in more than 20 years$1.2 million.
The donation, the largest in the foundation's history, will fund a new children's center at Belmont University in Nashville, the Tennessean reports.
The center, which will be called the Children's Place, is expected to open in the fall and offer after-school and summer programs for at-risk 4-year-olds, as well as after-school and summer programs for older kids.
The Community Foundation of Middle Tennessee, a 22-member board of directors, says the donation is part of a larger effort to "strengthen [the foundation's] impact by dedicating their time, talent, and commitment to driving positive change in the community."
The Community Foundation of Middle Tennessee has donated more than $30 million to date.
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Senay Ataselim-Yilmaz, Chief Operating Officer, Turkish Philanthropy Funds, writes that philanthropy often solves the very problems that stems from market failure. Some social issues, however, cannot be tackled by questioning the return on investment.