TWO BAY AREA GROUPS AGREE TO MERGE, CREATING ONE OF COUNTRY'S LARGEST COMMUNITY FOUNDATIONS
By John Woolfolk
Mercury News
Two Bay Area philanthropy groups agreed to a merger Wednesday that will create one of the largest foundations of its kind in the nation, with $1.5 billion in assets and 1,400 charitable funds.
The governing boards of the San Jose-based Community Foundation Silicon Valley and the Peninsula Community Foundation, located in San Mateo, voted unanimously to join forces as the Silicon Valley Community Foundation.
The combined organization, which will be based in Palo Alto or East Palo Alto, will be among the top five community foundations in the country, rivaling the $1.9 billion New York Community Trust and the $1.6 billion Cleveland Foundation."
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