Wednesday, February 27, 2008

Chairman of Barnes & Noble and His Wife Make $20 million Gift to Rebuild After Hurricane Katrina

The Chronicle of Philanthropy reports that:

Leonard Riggio, chairman of the Barnes & Noble bookselling company, and his wife, Louise, have made a $20-million gift to build homes for low-income homeowners in New Orleans who have been unable to repair or rebuild after Hurricane Katrina. The donation is one of the largest to date for rebuilding on the Gulf Coast.

'When the hurricane hit and the levees broke, we just cried,' says Mr. Riggio. 'We felt so badly for the people in the area. We felt compelled to help out.'

The couple made the gift through their family foundation, which has created a nonprofit development arm, Project Home Again, to oversee building. The organization expects to [build] 120 to 150 houses.

See full article for complete story.

amt

http://lawprofessors.typepad.com/nonprofit/2008/02/the-chronicle-o.html

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