< 1 min read
March 26, 2013
"I don't believe in perpetual foundations," says Philadelphia philanthropist Gerry Lenfest as he steps down from namesake foundation.
"The Lenfest Foundation, one of the region's last remaining powerhouse philanthropies, has undertaken a series of changes that will dramatically alter its leadership and mission, and effectively maps out a path to its end. H. F. 'Gerry' Lenfest has long said the foundation he and his wife, Marguerite, founded would spend itself down and cease to exist within 10 years of their deaths. But Lenfest, 82, has decided to step down now as chairman."--the Philadelphia Inquirer