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Memorial fund reaches $101m.

The World Trade Center Memorial Foundation announced a major fundraising benchmark in the effort to build the Memorial at the World Trade Center site.

To date, $101.032 million has been pledged to the Foundation's ambitious $500 million private fundraising goal to build the Memorial which will honor the lives lost on September 11, 2001 and February 26, 1993 and the museum which will tell the story of the attacks and the courageous response in their aftermath.

"The Foundation has been able to surpass a significant milestone in our fundraising challenge thanks to the great generosity of many individuals, foundations and corporations," said World Trade Center Memorial Foundation chairman John C. Whitehead.

At the press conference, Governor Pataki signed into law legislation creating the opportunity for New Yorkers to contribute to the World Trade Center Memorial Foundation through their New York State tax returns. The tax return donation option will be available on individual and corporate tax returns beginning with the 2005 tax year. The legislation was proposed by the Governor in January and was passed unanimously by both the Senate and the Assembly.

The Foundation's first major fundraising achievement of over $101 million was reached through the generosity of major individual donors, foundations and corporations in United States and abroad. This benchmark was made possible through gifts from foundations of up to $25 million, corporate gifts from both national and international companies of up to $15 million and individual donor gifts of up to $15 million.

While the Foundation's fundraising efforts began only six months ago, major commitments have already been made by the philanthropy community.
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Publication:Real Estate Weekly
Date:Nov 2, 2005
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