The Post-Bloomberg Plunge

Thursday, April 10, 2014

As Mayor Michael Bloomberg's money goes global, NYC nonprofits miss their biggest patron.

No other leader of New York City has run the place from his own pocket the way Mayor Michael Bloomberg did. Over his 12 years as mayor, the billionaire, ranked as the world’s 13th richest man in 2013, donated north of $263 million to city art, public health, cultural and civic groups. Bloomberg Philanthropies, which encompasses all of the charitable giving for the former mayor, is the 12th largest foundation in the U.S.

Now that Mr. Bloomberg is out of office, the fate of funding for local nonprofit groups remains up in the air, and his priorities appear to be shifting away from the city. “When I left City Hall on Dec. 31, 2013, after having had the honor of serving New Yorkers for 12 years, I began having more time to spend on national and global issues,” Mr. Bloomberg wrote in his 2014 annual letter on philanthropy….

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