Gifts From Wall Street Executive Fred Alger Marks Campaign Milestone for The War Memorial
The War Memorial proudly announces gifts totaling $20 million from Fred Alger, prominent member of the Alger Family and founder of the Wall Street firm, Alger Management. The former Palm Beach resident has transitioned back to the city of his birth, Grosse Pointe, and is supporting the first phase of The War Memorial’s capital campaign with a prior gift of $12 million. During a private event held last night, Alger donated an additional $8 million. His is the lead gift toward a new state-of-the-art 25,000 square feet facility to open on the shores of Lake Saint Clair in Spring 2022 and will bear his name as The Fred M. Alger Center for Arts, Culture, and Humanities at The War Memorial.
The most recent component of Alger’s giving will enhance arts and culture offerings, expand programming around issues of democracy, and grow service-centered philanthropic efforts. His gifts will also support The War Memorial’s new facility to include improvements to the grounds and garden, creation of waterside park and a major new public art installation to follow.
“I am incredibly moved by the sense of adventure and can-do attitude of The War Memorial and am honored to play a role in supporting the legacy of my ancestral home and writing the next chapter of possibilities,” said Fred Alger. “It has been a pleasure to work with The War Memorial during this transformational time and I am proud to be a leading part of its bright future.”
Fred Alger’s support continues a legacy of Alger Family philanthropic investment in the War Memorial, throughout Southeast Michigan and beyond. Alger House, the family’s ancestral home; was dedicated to The War Memorial in 1949 to improve the quality of life of the broader community, to serve as a permanent war memorial, and create a community gathering place for educational, cultural, charitable, and patriotic activities.
“We are grateful for Mr. Alger’s investment in the future of this institution as an accessible place of belonging for everyone from everywhere,” said The War Memorial’s President and CEO Charles Burke. “It is investments like these that will further ensure The War Memorial remains relevant in meeting the needs of surrounding communities both near and far.”
The War Memorial currently serves an estimated 250,000 individuals per year. More than 3,000 functions are held annually, including programs to honor veterans, engagement experiences for adults and children, and community events. The War Memorial is also working to expand its philanthropic reach throughout the Midwest to support strategic and mission-focused programs that will serve, honor and advocate for service men and women.
“The Fred M. Alger Center at The War Memorial will aspire to connect us all through programming fueled by curiosity and a sense of humble service, particularly as we carefully emerge out of this pandemic and time of fear,” said Burke. “We believe that Mr. Alger’s faith over fear and vision of hope will have a true impact in the region and that it will serve as inspiration for others along this noble journey.”
To learn more about the future The Fred M. Alger Center for Arts, Culture and Humanities at The War Memorial, visit www.warmemorial.org/future. For more about the War Memorial, visit www.warmemorial.org.
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About The War Memorial
The War Memorial, located on the shores of Lake Saint Clair in Grosse Pointe Farms, MI, is an experiential space open to everyone from everywhere. For more than 70 years, it has served as a patriotic, cultural, and community center. Its unique environment attracts more than 3,000 events and 250,000 visitors annually while offering premier hospitality services for community and private gatherings. Its diverse lineup of innovative programming includes live and virtual engagement experiences for adults and children. At its core, The War Memorial celebrates the ideas of American democracy while honoring those who have defended those ideas with tireless effort and personal sacrifice. Numerous patriotic and veterans’ events are held as well as history and civics offerings on the origin, traditions, and challenges facing American democracy. The War Memorial remains committed to serving the community as a unique, dynamic, and forward-thinking hub for southeast Michigan.
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