Created in 2017 with a $70.3 million gift from local businessmen William Johnston and William Parfet, FFE is a public-private partnership that was formed to fund priorities in three areas — property tax reduction, shoring up the city's budget, and "aspirational" projects. The latest commitment from Stryker Johnston — which follows a $57 million gift from the foundation last October — will support community projects through the 2022 fiscal year. FFE has been working to raise $500 million for an endowment to fund its priorities in perpetuity and has raised approximately $155 million toward that goal.
The Stryker Johnston Foundation was established in 1995 by Ronda Stryker, a director of medical device manufacturer Stryker Corp., and her husband, William Johnston.
According to MLive.com, FFE has spent $19.3 million since 2017 in support of a youth mobility fund, park improvements, and small businesses; about $33.19 million for property tax reductions; and $7.8 million on budget stabilization.